The financial statements of Eagle Sport Supply are shown in the table below. For simplicity, "Costs" include interest. Assume that Eagle's assets are proportional to its sales. Income Statement Sales Costs Pretax income Taxes (at 30.0%) Net income 2019 Net assets $4,000 Total $4,000 External funds needed Value of debt $1,950 750 $1,200 360 $ 840 Dividends Balance Sheet, Year-End 2018 $ 3,700 Debt Equity Total a. Find Eagle's required external funds if it maintains a dividend payout ratio of 50% and plans a growth rate of 25% in revenue, expenses, and assets in 2020. Assume the tax rate remains constant. (Do not round intermediate calculations. Round your answe to the nearest whole dollar amount.) $ 3,700 $ 2019 $1,500 2,500 $4,000 264 b. If Eagle chooses not to issue new shares of stock, what is the value of debt in 2020? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) $ 1,264 2018 $ 1,400 2,300 $ 3,700 c. Suppose that the firm plans instead to increase long-term debt only to $1,850 and does not wish to issue any new shares of stock. What must be the 2020 dividend payment now? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

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