Response to the following problem:
Here are the abbreviated financial statements for Planners Peanuts:
Income Statement for 2012 is Sales of $6,000; Cost of $4,700 which gives Net Income of $1,300.00: BALANCE SHEET, YEAR-END is Assets for year 2011 of $9,500 and Assets for year 2012 of $10,000 which each year total the same of (9,500 and 10,000);
The Debt Equity for year 2011 is $933 and $8,567 which total $9,500.00 and the debt equity for year 2012 is $1,000 and $9,000 which total $10,000.
If the dividend payout ratio is fixed at 50%, calculate the required total external financing for growth rates in 2013 of 20%, 25%, and 30%.
(DO NOT ROUND INTERMEDIATE CALCULATIONS. ROUND YOUR ANSWERS TO 2 DECIMAL PLACES.)