have done this assignment, i need to submit it in 8 hours, want to double check if I have done it right.

1. You have been asked to calculate two growth rates, the internal growth rate and the sustainable growth rate for the company. You know that the internal growth rate is the rate the company can maintain with internal financing only. A higher growth rate is possible but will need external financing. The sustainable growth rate is the maximum growth rate company can maintain with no external equity financing while keeping the leverage ratio constant. The two rates can be computed as follows:

Internal growth rate = ROA*b / (1-ROA*b) Sustainable growth rate = ROE*b / (1-ROE*b) Where b is plow back ratio, defined as 1 - Dividend Payout Ratio

2. You were told that sales are projected to grow 15% next year. Your boss asked you to check whether a 15% growth rate is possible without changing the debt/equity ratio. If yes, you will need to compute how much external financing is needed (You know that you will need to work out the pro forma financial statements for a 15% sales increase, using the percentage of sales approach). Please make sure you explain your answer

2021 Income Statement Sales $ 37,038,492 COGS 27,629,530 Other expenses 4,696,692 Depreciation 1 ,659,882 EBIT $ 3,052,388 Interest 580,078 Taxable income $ 2,472,310 Taxes (25%) 618,078 Net income $ 1,854,232 Dividends $ 565,000 Add to RE $ 1,289,232 2021 Balance Sheet Assets Liabilities & Equity Current Assets Current Liabilities Cash $ 419,970 Accounts Payable $ 854,685 Accounts rec. 674,475 Notes Payable 1,951,642 Inventory 988,129 Total CL $ 2,806,327 Total CA $ 2,082,574 Long-term debt $ 5,100,000 Shareholder Equity Fixed assets Common stock $ 410,000 Net PP&E $ 16,305,556 Retained earnings 10,071,803 Total Equity $ 10,481 ,803 Total Assets $ 18 388.1 30 Total L&E $ 18,383,130 Light Airplane Industry Ratios Lower Quartile Median Upper Quartile Current ratio 0.45 1.43 1.90 Quick ratio 0.20 0.35 0.62 Cash ratio 0.08 0.21 0.39 Total asset turnover 0.68 0.85 1.38 Inventory turnover 4.89 6.15 10.89 Receivables turnober 6.27 9.82 14.11 Total debt ratio 0.41 0.52 0.61 Debt-equity ratio 0.68 1.08 1.56 Equity multiplier 1.68 2.08 2.56 Times interest earned ratio 5.18 8.05 9.83 Cash coverage ratio 5.84 9.41 10.27 Profit margin 0.04 0.05 0.07 ROA 0.06 0.10 0.13 ROE 0.10 0.15 0.19