Using the following financial statements for 2022, calculate the external financing needs for this firm using the following assumptions for 2023:  sales will grow at a rate of 12%, tax rate is 34%, and the firm will distribute 40% of net income as dividends.

 

Complete chart below with work: 

Growth rate Tax rate Plowback ratio Payout ratio ASSETS Cash Receivables Inventory Fixed Assets Total Assets LIABILITIES Accounts Payable Long Term Debt Common Stock Retained Earnings Total Liab & Equity 405 1,774 150 4,262 6,591 1,897 3,520 992 182 6,591 EFN Dividends Retained Earnings IGR INCOME STATEMENT Revenue Cost of goods sold Gross profit Selling expenses Depreciation EBIT Interest EBT Taxes Net income 9,063 4,235 4,828 3,921 162 745 98 647 220 427