Problem 3-13 External Funds Needed The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown here: Income Statement Sales $ 31,200,000 Costs 26,673,600 Taxable income Taxes $ 4,526,400 1,584,240 Net income $ 2,942,160 1,176,864 $ Dividends Addition to retained earnings 1,765,296 Current assets Assets $ 7,280,000 Balance Sheet Liabilities and Owners' Equity Accounts payable $ 6,552,000 Long-term debt 5,248,000 Fixed assets 19,240,000 Ddidlice Sveel Assets Liabilities and Owners' Equity Current $ 7,280,000 Accounts payable $ 6,552,000 assets Long-term debt 5,248,000 Fixed assets 19,240,000 Common stock Accumulated retained earnings $ 2,902,000 11,818,000 Total equity $ 14,720,000 26,520,000 Total assets $ Total liabilities and equity 26,520,000 $ a. Using the equation from the chapter, calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) External financing needed $ 1,875,245 This is a numeric cell, so please enter numbers only. b- Construct the firm's pro forma balance sheet for next year. (Do not round 1. intermediate calculations and round your answers to the nearest whole dollar amount, e.g., 32.) Assets Current assets Fixed assets $ Balance Sheet Liabilities and equity 8.736,000 Accounts payable Long-term debt Common stock Accumulated retained earnings Total equity Total liabilities and equity Total assets b-2. Calculate external financing needed. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) External financing needed b-2. Calculate external financing needed. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) External financing needed C. Calculate the sustainable growth rate for the company based on the current financial statements. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Sustainable growth rate %