please i need the answer in excel with an explanation too.

Using Percentage of Sales. The 2015 financial statements for Growth Industries are presented below. Sales and costs in 2016 are projected to be 20% higher than in 2015. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at full capacity, so it plans to increase fied assets in proportion to sales What external financing will be required by the firm interest expense in 2016 will equal 10% of long-term debe outstanding at the start of the year. The firm will maintain a dividend payout ratio of 40. INCOME STATEMENT, 2015 Sales $200.000 Costs 150,000 EBIT 550.000 10.000 Interest expense Taxable income Taxes at 350 Net income $ 40,000 14.000 26.000 $10/400 Dividends Addition to retained earnings $15,600 I BALANCE SHEET, YEAR-END, 2015 Assets Liabilities Current assets Current liabilities Cash $3,000 Accounts payable $ 10,000 Accounts receivable 8,00 Total current liabilities $ 10,000 nventories 29,000 Long-term debt 100,000 Total current assets $ 40,000 Stockholders' equity Net plant and equipment 160,000 Common stock plus additional paid.in capital 15,000 75,000 Retained earnings Total liabilities plus $200,000 stockholders' equity Total assets $200,000