Use percentage of sales approach and figure out, approximately, how much external financing needed (or free cash flow generated) if XYZs corporation projects to grow its sale by 20%

100 300 XYZ 's Corporation 2018 Balance Sheet (in thousands) Assets Liability and Equity Current Assets Current Libility Cash 300 Account Payable Account Receivable 200 Notes Payable Inventory 400 Total Current Asset 900 Total Current Libility Equipment, Machine, and Plant 1500 Long Term Liability Total Finxed Assets 1500 Total Long Term Liability Shareholder's Equity Retained Earnings Total Shareholder's Equity Total Asset 2400 Total Liability and Shareholder's Equity 400 800 800 600 600 1200 2400 XYZ 's Corporation 2018 Income Statement Sales 1000 350 Costs of Goods Sold 500 Depreciation 150 EBIT Interetst Expense 100 Taxable Income Tax (34%) 85 Net Income Dividends Addition to Retained Earnings 250 165 65 100