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 $749,000 Costs 584,000 Other expenses 20.000 Earnings before interest $ 145,000 and taxes Interest expense 16.000 Taxable income $ 129,000 Taxes (219) 27.090 Net income $ 101.910 Dividends Addition to retained earnings $31.592 70,318 SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,840 Accounts payable $ 55,000 Accounts receivable 43,780 Notes payable 14,200 Inventory 93.960 Total $ 69,200 Total $ 132,000 Fixed assets Net plant and equipment $ 158,580 Long-term debt Owners' equity $425,000 Common stock and paid-in surplus Retained earnings $ 115,500 266.880 Total $382,380 Total assets $ 583.580 Total liabilities and owners equity $ 583.580 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.)