The manning company has financial statements as shown next, which are representative of the company’s historical average. the firm is expecting a 35 percent increase in sales next year, and management is concerned about the company’s need for external funds. the increase in sales is expected to be carried out without any expansion of fixed assets, but rather through more efficient asset utilization in the existing store. among liabilities, only current liabilities vary directly with sales. income statement sales $ 260,000 expenses 206,000 earnings before interest and taxes $ 54,000 interest 8,700 earnings before taxes $ 45,300 taxes 16,700 earnings after taxes $ 28,600 dividends $ 8,580 balance sheet assets liabilities and stockholders' equity cash $ 5,000 accounts payable $ 24,600 accounts receivable 39,000 accrued wages 2,050 inventory 60,000 accrued taxes 4,550 current assets $ 104,000 current liabilities $ 31,200 fixed assets 97,000 notes payable 8,700 long-term debt 23,500 common stock 121,000 retained earnings 16,600 total assets $ 201,000 total liabilities and stockholders' equity $ 201,000 using the percent-of-sales method, determine whether the company has external financing needs, or a surplus of funds.