Help Save & Exit Submit Check my work Problem 18-12 Using Percentage of Sales (LO2) Eagle Sports Supply has the following financial statements. Assume that Eagle's assets are proportional to its sales. INCOME STATEMENT, 2019 Sales $1,15e Costs 22e Interest Taxes Net Income Hint 2018 3,200 Assets $ BALANCE SHEET, YEAR-END 2019 $ 3,500 Debt Equity Total $ $ 2018 1.400 1.800 3,200 2019 1.500 2.689 3,5ee Total $ 3. $ $ a. Find Eagle's required external funds if it maintains a dividend payout ratio of 70% and plans a growth rate of 20% in 2020. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If Eagle chooses not to issue new shares of stock, what variable must be the balancing item? c. What will be the value of this balancing item? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. Now suppose that the firm plans instead to increase long-term debt only to $1,600 and does not wish to issue any new shares of stock. What is now the balancing item? Return to question a. Find Eagle's required external funds if it maintains a dividend payout ratio of 70% and plans a growth rate of 20% in 2020. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If Eagle chooses not to issue new shares of stock, what variable must be the balancing item? c. What will be the value of this balancing item? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. Now suppose that the firm plans instead to increase long-term debt only to $1,600 and does not wish to issue any new shares of stock. What is now the balancing item? e. What will be the value of this new balancing item? (Do not round intermediate calculations. Round your answer to the nearest whole number.) points Answer is not complete. 135.70 $ Debt External funding need Balancing item Value Balancing item