Intro Model Corp.'s most recent balance sheet and income statement are given below all numbers in S million): Assets Liabilities and Equity Cash 39 Accounts payable 117 Accounts receivable 78 Current liabilities 117 Inventory Long-term debt 156 Current assets 234 Total liabilities 273 Machinary 156 Equity Total assets 390 Total liab. & equity 390 117 117 Income statement Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income 130 78 26 26 7.8 18.2 6.19 12.01 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 40% of net income as dividends next year. Part 1 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 IB 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 Part 3 IB Attempt 1/10 for 10 pts. What is the external financing needed (EFN) for next year (in 5 million)? 0+ decimals Submit Intro Model Corp.'s most recent balance sheet and income statement are given below all numbers in S million): Assets Liabilities and Equity Cash 39 Accounts payable 117 Accounts receivable 78 Current liabilities 117 Inventory Long-term debt 156 Current assets 234 Total liabilities 273 Machinary 156 Equity Total assets 390 Total liab. & equity 390 117 117 Income statement Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income 130 78 26 26 7.8 18.2 6.19 12.01 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 40% of net income as dividends next year. Part 1 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 IB 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 Part 3 IB Attempt 1/10 for 10 pts. What is the external financing needed (EFN) for next year (in 5 million)? 0+ decimals Submit