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a. What is the maximum possible growth rate in 2016 for Planners Peanuts if the payout ratio is fixed at 50% and no external debt or equity is to be issued? (Do not round intermediate calculations, Round your answer to 1 decimal place.) The maximum possible growth rate What is the maximum possible growth rate in 2016 for Planners Peanuts if the payout ratio is fixed at 50% and the firm maintains its 2015 debt-to-equity ratio but issues no equity? (Do not round intermediate calculations. Round your answer to 1 decimal place.) The maximum possible growth rate b. Calculate the required external financing for the two growth rates. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Required external financing for the first growth rato Required external financing for the second growth rato Here are the abbreviated financial statements for Planners Peanuts: Income Statement, 2015 Sales $2,560 Costs 1,500 Net income $1,060 Assets 2014 $2,737 Balance Sheet, Year-End 2015 $3,536 Debt Equity $3,536 Total 2014 $888 1,849 $2,737 2015 $1,310 2,226 $3,536 Total $2,737 a. What is the maximum possible growth rate in 2016 for Planners Peanuts if the payout ratio is fixed at 50% and no external debt or equity is to be issued? (Do not round intermediate calculations. Round your answer to 1 decimal place.) The maximum possible growth rate What is the maximum possible growth rate in 2016 for Planners Peanuts if the payout ratio is fixed at 50% and the firm maintains its 2015 debt-to-equity ratio but issues no equity? (Do not round intermediate calculations. Round your answer to 1 decimal place.) The maximum possible growth rato b. Calculate the required external financing for the two growth rates. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Here are the abbreviated financial statements for Planners Peanuts: Income Statement, 2015 Sales $2,497 Costs 1,742 Net income $ 755 Assets 2014 $2,670 Balance Sheet, Year-End 2015 $3,275 Debt Equity 2014 $836 $1,834 2015 $1,243 2,032 Total $2,670 $3,275 Total $2,670 $3,275 If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2016 of 15%, 20%, and 25%. (Round your answers to 3 decimal places.) 15% 20% 25% Growth Rate Required external financing

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