Compute the external financing needed to support the projected annual sales growth.

The most recent financial statements for Fleury, Inc., follow. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW E4 Sign In * Calibri -|11 MAA = % D Paste B IU , P, A, Alignment Number Editing Conditional Format as Cell Formatting Table Styles Styles Cells - Clipboard Font A1 I J K L M N O P Q R 012 are projected to grow by 20 percent. Interest expense will remain stant. Costs, other expenses, current assets, fixed assets, and accounts Il capacity and no new debt or equity is issued, what external financing is Assets 20,240 32,560 69,520 122.320 Liabilities and owners' equity Current liabilities Accounts payable $ 54,400 Notes payable 13,600 Total S 68,000 Long-term debt $ 126,000 $ 330,400 $ Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 112.000 146,720 258,720 $ $ 452,720 $ 452,720 ... Sheet1 ... + READY D U -- + 100% Hint Attempt(s) Tax rate 35% Complete the following analysis. Do not hard code values in your answers. Dividend payout ratio 2012 Pro Forma Income Statement Sales Costs Other expenses EBIT Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Interest expense Taxable income Taxes Net income Dividends Add. To RE Total assets ... Sheet1 ... + @ -- + 100% READY Attempt(s) References Excel Simulation Learning Objective: 04-02 How to compute the external financing needed to fund a firme arowth AL I J K L M N O P Q R alues in your answers. Assets 30 nt assets 31 sh 32 counts receivable 33 entory 34 Total 35 assets 36 t plant and 37 uipment Liabilities and owners' equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity assets ... Sheet1 ... + 44 1 READY Attempt(s) @ D -- + 100% References Excel Simulation Learning Objective: 04-02 How to compute the external financing needed to fund a firme arowth The most recent financial statements for Fleury, Inc., follow. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW E4 Sign In * Calibri -|11 MAA = % D Paste B IU , P, A, Alignment Number Editing Conditional Format as Cell Formatting Table Styles Styles Cells - Clipboard Font A1 I J K L M N O P Q R 012 are projected to grow by 20 percent. Interest expense will remain stant. Costs, other expenses, current assets, fixed assets, and accounts Il capacity and no new debt or equity is issued, what external financing is Assets 20,240 32,560 69,520 122.320 Liabilities and owners' equity Current liabilities Accounts payable $ 54,400 Notes payable 13,600 Total S 68,000 Long-term debt $ 126,000 $ 330,400 $ Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 112.000 146,720 258,720 $ $ 452,720 $ 452,720 ... Sheet1 ... + READY D U -- + 100% Hint Attempt(s) Tax rate 35% Complete the following analysis. Do not hard code values in your answers. Dividend payout ratio 2012 Pro Forma Income Statement Sales Costs Other expenses EBIT Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Interest expense Taxable income Taxes Net income Dividends Add. To RE Total assets ... Sheet1 ... + @ -- + 100% READY Attempt(s) References Excel Simulation Learning Objective: 04-02 How to compute the external financing needed to fund a firme arowth AL I J K L M N O P Q R alues in your answers. Assets 30 nt assets 31 sh 32 counts receivable 33 entory 34 Total 35 assets 36 t plant and 37 uipment Liabilities and owners' equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity assets ... Sheet1 ... + 44 1 READY Attempt(s) @ D -- + 100% References Excel Simulation Learning Objective: 04-02 How to compute the external financing needed to fund a firme arowth