Jpton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships- them to its chain of retall storas, and has a staff to advise customers and help them set up their new computers. Upton's balance sheet as of Docember 31, 2021, is shown here (million doliars): Sales for 2021 were 5200 million, and net income for the year was 56 milion, so the firmin profit margin was 3.04 . Upton paid dividendi of 12,4 milio to cormmon stockholdern, so its payout ratio was 4006 . Its tox rote was 25%, and it operated at full capacity. AsLime that all assetw/saina ration. (6pontaneoun liabilitieb)/sales ratios, the profit margin, and the payout ratio remain constant in 2022. Do not round intermediate calculations. 4. If sales are projected to increase by 548 milion, or 2496, during 2022, use the AFN equation to determine Upton's projected externai capital requirements. Finter yout angwer in milions. For example, an answer of 510,550,000 should be antered as 10.55 . Round your answer to two decimel places les for 2021 were $200 million, and net income for the year was $6 million, so the firm's profit margin was 3.0%. Upton paid dividends of $2.4 millic common stockholders, so its payout ratio was 40%. Its tax rate was 25%, and it operated at full capacity. Assume that all assets/sales ratios, pontaneous liabilities)/sales ratios, the profit margin, and the payout ratio remain constant in 2022. Do not round intermediate calculations. a. If sales are projected to increase by $48 million, or 24%, during 2022 , use the AFN equation to determine Upton's projected external capital requirements. Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55 . Round your answer to two decimal places. 5 b. Using the AFN equation, determine Upton's self-supporting growth rate. That is, what is the maximum growth rate the firm can achieve without having to employ nonspontaneous external funds? Round your answer to two decimal places. c. Use the forecasted financial statement method to forecast Upton's balance sheet for December 31 , 2022. Assume that all additional external capital is raised as a line of credit at the end of the year. (Because the debt is added at the end of the year, there will be ne additional intareat expense due to the new debt.) Assume Upton's profit margin and dividend payout ratio will be the sam5 in 2022 as they were in 2021 . What . the amount of the line of credit reported on the 2022 forecasted balance sheets? (Hint: You don't need to forecast the income statements because the line of credit in taken out on the last day of the year and you are given the projected sales, profit margin, and dividend payout ratio; these figures aliow you to calculate the 2022 addition to retained earnings for the balance sheet without actualy constructing a fua income statement.) finter your answers in milions. For example, an answer of $10,550,000 should be entered as 10.55. Round your anawers to two decimal places Upton Computers Pro Forma Balance Sheet Jpton Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, ships- them to its chain of retall storas, and has a staff to advise customers and help them set up their new computers. Upton's balance sheet as of Docember 31, 2021, is shown here (million doliars): Sales for 2021 were 5200 million, and net income for the year was 56 milion, so the firmin profit margin was 3.04 . Upton paid dividendi of 12,4 milio to cormmon stockholdern, so its payout ratio was 4006 . Its tox rote was 25%, and it operated at full capacity. AsLime that all assetw/saina ration. (6pontaneoun liabilitieb)/sales ratios, the profit margin, and the payout ratio remain constant in 2022. Do not round intermediate calculations. 4. If sales are projected to increase by 548 milion, or 2496, during 2022, use the AFN equation to determine Upton's projected externai capital requirements. Finter yout angwer in milions. For example, an answer of 510,550,000 should be antered as 10.55 . Round your answer to two decimel places les for 2021 were $200 million, and net income for the year was $6 million, so the firm's profit margin was 3.0%. Upton paid dividends of $2.4 millic common stockholders, so its payout ratio was 40%. Its tax rate was 25%, and it operated at full capacity. Assume that all assets/sales ratios, pontaneous liabilities)/sales ratios, the profit margin, and the payout ratio remain constant in 2022. Do not round intermediate calculations. a. If sales are projected to increase by $48 million, or 24%, during 2022 , use the AFN equation to determine Upton's projected external capital requirements. Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55 . Round your answer to two decimal places. 5 b. Using the AFN equation, determine Upton's self-supporting growth rate. That is, what is the maximum growth rate the firm can achieve without having to employ nonspontaneous external funds? Round your answer to two decimal places. c. Use the forecasted financial statement method to forecast Upton's balance sheet for December 31 , 2022. Assume that all additional external capital is raised as a line of credit at the end of the year. (Because the debt is added at the end of the year, there will be ne additional intareat expense due to the new debt.) Assume Upton's profit margin and dividend payout ratio will be the sam5 in 2022 as they were in 2021 . What . the amount of the line of credit reported on the 2022 forecasted balance sheets? (Hint: You don't need to forecast the income statements because the line of credit in taken out on the last day of the year and you are given the projected sales, profit margin, and dividend payout ratio; these figures aliow you to calculate the 2022 addition to retained earnings for the balance sheet without actualy constructing a fua income statement.) finter your answers in milions. For example, an answer of $10,550,000 should be entered as 10.55. Round your anawers to two decimal places Upton Computers Pro Forma Balance Sheet