b. What would be the need for external financing if the net profit margin went up to 10.5 percent and the dividend payout ratio was increased to 60 percent? (Do not round intermediate calculations. Enter your answer in dollars, not millions, (e.g., $1,234,567).)

Conn Man's Shops, a national clothing chain, had sales of $450 million last year. The business has a steady net profit margin of9 percent and a dividend payout ratio of 30 percent. The balance sheet for the end of last year is shown. Balance Sheet End of Year (in $ millions) Assets Liabilities and Stockholders' Equity Cash 55 43 Accounts payable $ 55 Accounts receivable 64 Accrued expenses 41 Inventory 94 Other payables 33 Plant and equipment $ 186 Common stock 86 Retained earnings NZ Total assets $ 337' Total liabilities and stockholders' equity $ 38? The firm's marketing staff has told the president that in the coming year there will be a large increase in the demand for overcoats and wool slacks. A sales increase of 20 percent is forecast for the company. All balance sheet items are expected to maintain the same percentofsales relationships as last year,\" except for common stock and retained earnings. No change is scheduled in the number of common stock shares outstanding, and retained earnings will change as dictated by the profits and dividend policy of the firm. (Remember, the net profit margin is 9 percent.) *This includes fixed assets, since the firm is at full capacity. a. Will external financing be required for the company during the coming year? @I Yes ONO b. What would be the need for external nancing if the net profit margin went up to 10.50 percent and the dividend payout ratio was increased to 50 percent? Note: Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer in dollars, not millions, (e.g., $1,234,567). Input your answer as positive a value