The Dalmation Corporation expects the following summarized financial results this year ($000).

Use the EFR relation to estimate Dalmation€™s external funding requirements under the following conditions.
a. Sales growth of 15%.
b. Sales growth of 20% and a reduction in the payout ratio to 25%.
c. Sales growth of 25%, elimination of dividends, and a 4% improvement inROS.

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INCOME STATEMENT BALANCE SHEET Assets Revenue Cost/expenses Tax EAT Dividends $10,500 9,100 560 840 420 Current assets Net fixed assets $ 5,500 6,900 $12,400 Total assets Liabilities & equity Current Debt Equity $ 320 5,080 7,000 $12,400 Total L&E