B Assignment #3 (Chapter 4) - 22V x Question 7 - Assignment #3 (Cha x * Course Hero X + X -) C VYN ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlew... > 8 G Google a Amazon.de mi eBay Facebook YouTube @ Addons Store G Gmail YouTube S New Tab ) Maps Registration Term G Beka Bante - Printin. > > Reading list Assignment #3 (Chapter 4) Saved Help Save & Exit Submit Check my work 7 Harvard Prep Shops, a national clothing chain, had sales of $300 million last year. The business has a steady net profit margin of 30 percent and a dividend payout ratio of 30 percent. The balance sheet for the end of last year is shown below: Balance Sheet 12.5 December 31, 20XX ($ millions) Assets Liabilities and Shareholders' Equity points Cash $5 Accounts payable $16 Account receivable 24 Accrued expenses 12 Skipped Inventory 69 Other payables 14 Common stock 40 Plant and equipment 160 Retained earnings 176 eBook Total assets $258 Total liabilities and equity $258 Print References Harvard's anticipates a large increase in the demand for tweed sport coats and deck shoes. A sales increase of 30 percent is forecast. All balance sheet items are expected to maintain the same percent-of-sales relationships as last year, except for common stock and retained earnings. No change in the number of common shares outstanding is scheduled, and retained earnings will change as dictated by the profits and dividend policy of the firm. a. Will external financing be required for the Prep Shop during the coming year? O Yes Mc Graw Hill B. 3 O W A O ENG 5:24 PM US 2022-02-09B Assignment #3 (Chapter 4) - 22V x Question 7 - Assignment #3 (Cha x * Course Hero X + X -) C VYN ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlew... > 8 G Google a Amazon.de mi eBay Facebook YouTube @ Addons Store G Gmail YouTube S New Tab ) Maps Registration Term G Beka Bante - Printin. > > Reading list Assignment #3 (Chapter 4) Saved Help Save & Exit Submit Check my work 7 Common stock 40 Plant and equipment 160 Retained earnings 176 Total assets $258 Total liabilities and equity $258 12.5 points Harvard's anticipates a large increase in the demand for tweed sport coats and deck shoes. A sales increase of 30 percent is forecast. Skipped All balance sheet items are expected to maintain the same percent-of-sales relationships as last year, except for common stock and retained earnings. No change in the number of common shares outstanding is scheduled, and retained earnings will change as eBook dictated by the profits and dividend policy of the firm. Print a. Will external financing be required for the Prep Shop during the coming year? References O Yes O No b. What would the need for external financing be if the net profit margin went up to 35 percent and the dividend payout ratio was increased to 65 percent? (Enter the answer in millions. Round the final answer to 2 decimal places.) Required new funds million Mc Graw Hill B. 3 O W A O ENG 5:24 PM qD US 2022-02-09