The most recent financial statements for Moose Tours, Inc., appear below. Sales for 2016 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also 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 20 percent growth rate in sales?

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MOOSE TOURS, INC. 2015 Income Statement Sales Costs Other expenses Earnings before interest and taxes Interest expense Taxable income Taxes Net income $752,500 585,600 15,400 $151,500 11,340 $140,160 49,056 $91,104 $27.33 Addition to retained earnings 63,773 MOOSE TOURS, INC. Balance Sheet as of December 31, 2015 Assets Liabilities and Owners' E Current assets Current liabilities $ 58,140 14,535 $ 72.675 $135,000 $21,632 Accounts payable Accounts receivable 34,799Notes payable Inventory 74,300 Total $130,731 Long-term debt Owners' equity Total Common stock and paid-in surplus Retained earnings $115,000 161,176 $276,176 $483,851 assets Net plant and equipment $353,120 Total Total assets 483,85 Tot liabilities and owners' equity