Problem 3-21 Calculating EFN The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 30 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. SCOTT, INC. 2019 Income Statement Sales $758,000 Costs 593,000 Other expenses 29,000 Earnings before interest $ 136,000 and taxes Interest expense 25,000 Taxable income $ 111,000 Taxes (25%) 27.750 Net income $ 83,250 Dividends Addition to retained earnings $24.975 58,275 SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 21,740 Accounts payable $ 55,900 Accounts receivable 44,680 Notes payable 15,100 Inventory 102,960 Total $ 71,000 Total $ 169,380 Long-term debt $ 141,000 Fixed assets Net plant and equipment $434,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 120,000 271,380 Total $ 391,380 Total assets $603,380 Total liabilities And owners' equity $603,380 If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales? (Do not round intermediate calculations.)