Problem $3-21$ Calculating EFN

The most recent financial statements for Crosby, Incorporated, appear below.

Sales for $2022$ are projected to grow by $25$ percent. Interest expense will

remain constant; the tax rate and the dividend payout rate also will remain

constant. Costs, other expenses, current assets, fixed assets, and accounts

payable increase spontaneously with sales.

If the firm is operating at full capacity and no new debt or equity is issued, what

external financing is needed to support the $25$ percent growth rate in sales?

$($Do not round intermediate calculations and round your answer to the

nearest whole number, e$.$g$.,32.)$