Problem 18-18 Required External Financing (LO3) Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales $ 8,500 Cost 6,700 Net income $ 1.800 2019 Assets BALANCE SHEET, YEAR-END 2018 2019 $ 5,500 $ 6,000 Debt Equity S 5,500 $ 6,000 Total 2018 $ 853 4,647 $5,500 $ 1.000 5,000 $ 6,000 Total Assets are proportional to sales. If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2020 of (a) 25%, (b) 30%, and (c) 35%. (Do not round intermediate calculations. Round your answers to 2 decimal places.) External Financing Need (a) (b) (c) 25% 30% 35% Problem 18-18 Required External Financing (LO3) Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 Sales $ 8,500 Cost 6,700 Net income $ 1.800 2019 Assets BALANCE SHEET, YEAR-END 2018 2019 $ 5,500 $ 6,000 Debt Equity S 5,500 $ 6,000 Total 2018 $ 853 4,647 $5,500 $ 1.000 5,000 $ 6,000 Total Assets are proportional to sales. If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2020 of (a) 25%, (b) 30%, and (c) 35%. (Do not round intermediate calculations. Round your answers to 2 decimal places.) External Financing Need (a) (b) (c) 25% 30% 35%