The most recent financial statements for Fleury Inc., follow.Sales for next year are projected to grow by 19 percent. Interestexpense will remain constant; the tax rate and the dividend payoutrate will also remain constant. Costs, other expenses, currentassets, fixed assets and accounts payable increase spontaneouslywith sales. FLEURY, INC. Income Statement
Sales $ 552738
Costs 500801
Other expenses 10363
Earnings before interest and taxes $ ? I
nterest paid 10852 Taxable income $ ?
Taxes (30%) ? Net income ?
Dividends $ 6869 FLEURY,
INC Balance Sheet Assets Liabilities and Owners’ Equity Currentassets Current liabilities Cash $ 21829
Accounts payable $ 57564
Accounts receivable 31641
Notes payable 15616
Inventory 74265
Long-term debt $ 109420
Fixed assets Net plant and equipment $ 412140
Owners’ equity Common stock and paid-in surplus $ 149257
Retained earnings ?
If the firm is operating at full capacity and no new debt orequity is issued, what external financing is needed to support the19 percent growth rate in sales (round 2 decimal places)
