Uberville Drivers Inc. reported $750,000 in sales in the recent year, $650,000 in costs and $10,000 in interest. The firm's tax rate is 34%, and recent year's dividend payment was $34,400.

The company is planning to grow by 20% in the next year. Costs are proportional to sales. Interest is not. The company will face the same tax rate, and is targeting the same dividend payout ratio.

Construct a pro-forma income statement. What is the pro-forma addition to retained earnings?

Answer30,55638,20042,04464,40085,269

The firm has $538,000 in assets and $307,000 in equity out of which $130,000 are in common stock and paid-in surplus. Accounts payable are $65,000 and notes payable are $16,000. Assets and accounts payable are proportional to sales. All other balance sheet items are not.

Construct a pro-forma balance sheet. What are the External Funds Needed?

Answer$52,556$60,844$64,044$69,600$77,044

Suppose that the firm would like to maintain the current debt-to-equity ratio after it's growth, what part of the external funds needed will it raise in debt?

Answer$9,990$27,500$33,200$48,800

Please answer all parts of the question.

I got the answers for the first two but I don't know how to solve the third part. Please let me know if the first two are wrong, thanks!