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Homework: Long-term Financial Planning Assignment 0 Saved The 2019 nancial statements for Growth Industries are presented below. IllCl'ME STATEMENT, 2619 733 Sales $ 318,880 points Costs 205,880 EBIT 5 195,6% Interest expense 21,680 Taxable income 5 843% El Taxes (at 21%] 17,640 7 Net income 5 66,360 EBK Dividends 5 26,544 Addition to retained earnings $ 39,316 | Print BALANCE SHEET, YEAR-END, 2619 Assets Liabilities Current assets Current liabilities Cash $ 7,306 Accounts payable $ 14,6M Accounts receivable 12,8m Total current liabilities 5 14mm Inventories 31,8m Long-term debt 2183500 Total current assets 5 58,800 Stockholders' equity Net plant and equipment 258,800 Common stock plus additional paidein capital 15,800 Retained earnings ELEM Total assets 5 398,6% Total liabilities plus stockholders' equity 5 398,6% Sales and costs are projected to grow at 40% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The rm is currently operating at 70% capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The rm will maintain a dividend payout ratio of 0.40. What is the required external nancing over the next year? (Enter excess cash as a negative numbet with a minus sign.) External li'lanc'mg