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			$	30,900,000
Costs				26,000,300
Taxable income			$	4,899,700
Taxes				1,714,895
Net income			$	3,184,805
Dividends	$	1,273,922
Addition to retained earnings		1,910,883

BALANCE SHEET
Assets				Liabilities and Equity
Current assets	$	7,250,000		Short-term debt	$	5,562,000
				Long-term debt		5,253,000
Fixed assets		17,161,000
				Common stock	$	2,837,000
				Accumulated retained earnings		10,759,000
				Total equity	$	13,596,000
Total assets	$	24,411,000		Total liabilities and equity	$	24,411,000

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 %