Intro Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Assets 30 60 90 Cash Accounts receivable Inventory Current assets Machinary Total assets Liabilities and Equity Accounts payable 90 Current liabilities 90 Long-term debt 120 Total liabilities 210 Equity 90 Total liab. & equity 300 180 120 300 Income statement 130 78 Sales Costs Depreciation EBIT 26 26 3.6 Interest Taxable income 22.4 Taxes 7.616 Net income 14.78 Sales, assets and costs (including depreciation) are expected to grow by 27% next year, while the tax rate and long-term debt will stay constant. The company will pay out 70% of net income as dividends next year. Part 1 B Attempt 2/10 for 6.5 pts. Using the percentage of sales method, what will be the net income next year (in $ million)? 1+ decimals Submit Part 2 18 | Attempt 1/10 for 9.5 pts. Using the percentage of sales method, what should be the book value of equity by end of next year as a result of net income and dividend payout before any EFN is funded (in $ million)? 1+ decimals Submit 18 | Attempt 1/10 for 9.5 pts. Part 3 What is the external financing needed (EFN) for next year (in $ million)? 1+ decimals Submit