The Optical Scam Company has forecast an 23 percent sales growth rate for next year. The current financial statements are shown below. Current assets, fixed assets, and short-term debt are proportional to sales. INCOME STATEMENT Sales $28,000,000 20,800,000 Costs Taxable income Taxes $ 7,200,000 2,520,000 Net income $ 4,680,000 Dividends Additions to retained earnings $ 1,404,000 $3,276,000 BALANCE SHEET Assets Liabilities and Equity Current assets $7,280,000 Short-term debt $2,520,000 Long-term debt 3,020,000 21,000,000 Fixed assets Common stock Accumulated retained earnings $ 2,100,000 20,640,000 Total equity $22,740,000 Total assets $28,280,000 Total liabilities and equity $28,280,000 Required: a. Using the equation from the chapter, calculate the external funds needed for next year. (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount. (e.g., 1,234,567)) External funds needed c. Calculate the sustainable growth rate for the company. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16)) Sustainable growth rate d. Suppose Optical Scam eliminates its dividend entirely. What is the new EFN? External funds needed The Optical Scam Company has forecast an 23 percent sales growth rate for next year. The current financial statements are shown below. Current assets, fixed assets, and short-term debt are proportional to sales. INCOME STATEMENT Sales $28,000,000 20,800,000 Costs Taxable income Taxes $ 7,200,000 2,520,000 Net income $ 4,680,000 Dividends Additions to retained earnings $ 1,404,000 $3,276,000 BALANCE SHEET Assets Liabilities and Equity Current assets $7,280,000 Short-term debt $2,520,000 Long-term debt 3,020,000 21,000,000 Fixed assets Common stock Accumulated retained earnings $ 2,100,000 20,640,000 Total equity $22,740,000 Total assets $28,280,000 Total liabilities and equity $28,280,000 Required: a. Using the equation from the chapter, calculate the external funds needed for next year. (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount. (e.g., 1,234,567)) External funds needed c. Calculate the sustainable growth rate for the company. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16)) Sustainable growth rate d. Suppose Optical Scam eliminates its dividend entirely. What is the new EFN? External funds needed