Intro Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Assets 36 72 108 Cash Accounts receivable 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 360 216 144 360 Income statement 80 48 16 16 Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income 5.76 10.24 3.482 6.758 Sales, assets and costs (including depreciation) are expected to grow by 34% next year, while the tax rate and long-term debt will stay constant. The company will pay out 80% of net income as dividends next year. Part 1 1B Attempt 1/10 for 10 pts. Using the percentage of sales method, what will be the net income next year (in $ million)? 1 + decimals