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 STATEMENT
Sales			$	32,300,000
Costs				26,971,600
Taxable income			$	5,328,400
Taxes				1,864,940
Net income			$	3,463,460
Dividends	$	1,385,384
Addition to retained earnings		2,078,076

BALANCE SHEET
Assets				Liabilities and Equity
Current assets	$	7,390,000		Short-term debt	$	6,460,000
				Long-term debt		2,584,000
Fixed assets		17,804,000
				Common stock	$	4,306,000
				Accumulated retained earnings		11,844,000
				Total equity	$	16,150,000
Total assets	$	25,194,000		Total liabilities and equity	$	25,194,000

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 firms pro forma balance sheet for next year. (Do not round intermediate calculations.)

BALANCE SHEET
Assets				Liabilities and equity
Current assets	$			Short-term debt	$
Fixed assets				Long-term debt
				Common stock	$
				Accumulated retained earnings
				Total 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 %