Use the following lnforrnatlon for Delta Corporation to answer question 1: {20 marks total] Year zen 2px: Net sales $1,200,000 $1,335,481 Cost of goods sold 540,000 600,966 Depreciation 130,000 200,322 Interest paid 43,120 42,960 Cash 102, 000 1 13,516 Acoounts receivable 360,000 400,644 Inventory 360,000 400,644 Net fixed assets 1,440,000 1,602,527r Acoounts payable 300,000 333,620 Notes payable 39,000 32,000 Long-term debt 500,000 500,000 Common stock 1,000,000 1,000,000 Retained earnings 423,000 646,511 Tax rate 30% 30% Dividend payout 35% 35% 1. Delta has 500,000 common shares outstanding. The rm is projecting a 20% increase in net sales for the coming year {20x3}. Delta uses the percentage of sales approach to plan for its nancing needs. In using this approach, the rm assumes that cost of goods sold, depreciation, all assets {current and fixed], and accounts payable will all remain a oonsta nt percentage of sales. The firm will aim to maintain Its dividend payout of 35% for the foreseeable future. The interest rate charged on notes payable and long-term debt Is also expected to remain the same in. a. Construct the pro-forma statement of comprehensive income and statement of financial position for Delta Corporation for 2ox3. Calculate the external nancing needed [EFNj for 2ox3. Round all your numbers in the pro-forma statements to the nearest dollar. [4 marks} b. Based on its 2022 information, what is Delta's capital Intensity mtio? [1 marl!) c. What is Delta's full capacity sales If it is currently operating at ?0% capacity (202(2)? (1 mark} d. How will the external nancing needed {EFN} for 2ox3 be affected If Delta ls only operating at 20% capacity? Interpret this EFN w explain what the firm can do with it. [5 marks}