with show work please

The Manning Company has nancial statements as shown next, which are representative of the company's historical average. The rm is expecting a 35 percent increase in sales next year. and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of fixed assets. but rather through more efficient asset utilization in the existing store. Among liabilities, only current liabilities vary directly with sales. I name Statment Sales $230,000 Expenses 168,500 Earnings before interest and taxes 5 61,500 Interest 9,500 Earnings before taxes 5 52,000 Taxes 17,500 Earnings after taxes 5 34.500 Dividends $ 13,300 Balance Sheet Assets Liabilities and Stockholders' Equity Cash 3 6,500 Accounts payable 3 22,300 Accounts receivable 42,000 Accrued wages 2,450 Inventory 55,000 Accrued taxes 4,650 Current assets $103,500 Current liabilities $ 29,900 Fixed assets 90,000 Notes payable 9,500 Long-term debt 27,500 Colman stock 110,000 Retained earnings 16,600 Total assets 31931500 Total liabilities and stockholders' equity 3193.500 Using the percent-of-sales method, determine whether the company has external nancing needs, or a surplus of funds. (Hint: A prot margin and payout ratio must be found from the income statement.) {Do not round intermediate calculations.)