$($a$)$ What is the Internal Growth Rate using the year $2023$ financial statements?

$($b$)$ What is the Sustainable Growth Rate?

$($C$)$ Prepare the $2024$ pro$-$forma Balance Sheet and Income statements for assuming that the sales growth is expected to be $20\%.$ Assume that currently operating at full capacity. Also assume that interest expense remains constant $($at $$40,000),$ depreciation remains at $$6,000,$ notes payable is constant at $7,840,$ and dividends stay at $16,000.$ But all other cost items, current assets, accounts payable and accrued expenses increase proportionately with sales. Long Term Debt to Equity ratio will remain the same as well.Income Statement for the Year Ended Dec$\mathrm{.}31,2023($in thousands$)$

Balance Sheet as at Dec$\mathrm{.}31,2017$ & $2018($in thousands$)$