SLM Inc. with sales of $1000 has the following balance sheet:Assets:Accounts Re

SLM Inc. with sales of $1000 has the following balance sheet:Assets:Accounts Receivable $200Inventory $400Plant $800Total of Assets: $1400Liabilities and Equity:Trade accounts payable $200Long term debt $600Equity $600Total of Liabilities and Equity: $1400It earns 10% on sales (after taxes) and pays no dividends.a. Determine the balance sheet entries for sales of $1500 using the percent of sales method of forecasting.b. Will the firm need external financing to grow to sales of $1500?c. Construct as the new balance sheet and use newly issued long-term debt to cover any financial deficiency.