Let's return to the Hoffman Company. You are presented with the following income statement and balance sheet information for Hoffman: Hoffman Company Balance Sheets as of December 31, 2021 and 2022 Hoffman Company 2022 Income Statement Assume that all costs, assets, and accounts payable change spontaneously with sales. For simplicity's sake, assume interest expense also changes spontaneously with sales (even though you know it may not). The tax rate and dividend payout ratios remain constant. If the firm's managers project a growth rate of 15 percent next year, answer the following: 1. What amount of external financing will be needed (if any) to support this level of growth? Show your work. 2. Based off your response to the previous question, if you determined that some external financing would be necessary to support the level of sales growth, how could it be achieved? If no external financing is needed, simply state so