The financial statements of Eagle Sport Supply are shown

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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 StatementSales$2,750Costs 1,150Pretax income$1,600Taxes (at 30.0%) 480Net income$1,120Balance Sheet, Year-End 2019 2018  2019 2018Net assets$4,800 $4,500 Debt$1,900 $1,800       Equity 2,900  2,700Total$4,800 $4,500 Total$4,800 $4,500

a. Find Eagle’s required external funds if it maintains a dividend payout ratio of 50% and plans a growth rate of 30% in revenue, expenses, and assets in 2020. Assume the tax rate remains constant. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 

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.)

c. Suppose that the firm plans instead to increase long-term debt only to $2,450 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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