Intro Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Assets Cash 36 Accounts receivable 72 108 216 Inventory Current assets Machinary Total assets Liabilities and Equity Accounts payable 108 Current liabilities 108 Long-term debt 144 Total liabilities 252 Equity 108 Total liab. & equity 360 144 360 Income statement 110 Sales Costs 66 22 Depreciation EBIT Interest 22 7.2 Taxable income 14.8 Taxes 5.032 Net income 9.768 Sales, assets and costs (including depreciation) are expected to grow by 30% 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 18 Attempt 1/10 for 10 pts. Using the percentage of sales method, what will be the net income next year (in $ million)? 1+ decimals Submit Part 2 Attempt 1/10 for 10 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)? 0+ decimals Submit Attempt 1/10 for 10 pts. Part 3 What is the external financing needed (EFN) for next year (in $ million)? 1+ decimals Submit