(9-7) Forecasted Statements and Ratios Upton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships them to its chain of retail stores, and has a staff to advise customers and help them set up their new computers. Upton's balance sheet as of December 31,2021 , is shown here (millions of dollars): Sales for 2021 were $350 million, and net income for the year was $10.5 million, so the firm's profit margin was 3.0%. Upton paid dividends of $4.2 million to common stockholders, so its payout ratio was 40%. Its tax rate was 25%, and it operated at full capacity. Assume that all assets/sales ratios, (spontaneous liabilities)/sales ratios, the profit margin, and the payout ratio remain constant in 2022. a. If sales are projected to increase by $70 million, or 20%, during 2022 , use the AFN equation to determine Upton's projected external capital requirements. Problem 9-7 Forecasted Statements and Ratios Suppose net income was $8.2 million. Dividends were $4.9 million. What is the additional funds needed using the AFN formula? Provide your answer dollars, rounded to zero decimals, i.e. enter 1234567 for and of $123.456.78. Note: Changes in net income and dividends will affect some of the values (one example is profit margin) that were given originally