The Optical Scam Company has forecast a sales growth rate of 25 percent for next year. Current assets, fixed assets, and short-term debt are proportional to sales. The current financial statements are shown here:

INCOME STATEMENTSales$31,900,000Costs26,351,600Taxable income$5,548,400Taxes1,941,940Net income$3,606,460Dividends$1,442,584Addition to retained earnings2,163,876

BALANCE SHEETAssetsLiabilities and EquityCurrent assets$7,350,000Short-term debt$6,699,000Long-term debt5,263,500Fixed assets18,170,000Common stock$3,026,500Accumulated retained earnings10,531,000Total equity$13,557,500Total assets$25,520,000Total liabilities and equity$25,520,000

a.Calculate the external funds needed for next year using the equation from the chapter.(Do not round intermediate calculations.)

External financing needed$

b-1.Prepare the firm's pro forma balance sheet for next year.(Do not round intermediate calculations.)

BALANCE SHEETAssetsLiabilities and equityCurrent assets$Short-term debt$Fixed assetsLong-term debtCommon stock$Accumulated retained earningsTotal equity$Total assets$Total liabilities and equity$

b-2.Calculate the external funds needed.(Do not round intermediate calculations.)

External financing needed$

c.Calculate the sustainable growth rate for the company based on the current financial statements.(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Sustainable growth rate%