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1. Following are the Income Statement and comparative Balance Sheets of Dayadam Foods Dayadam Foods 2020 Income Statement ($ in millions) Net sales $8,450 Cost of goods sold 7,240 Depreciation 400 Operating profit 810 Financing cost 70 Taxable income $ 740 Taxes 259 Net income $_481 Dayadam Foods Comparative Balance Sheets ($ in millions) 2019 2020 2019 2020 Cash $ 120 $ 140 Accounts payable $1,110 $1,120 Accounts rec. 780 Long-term debt 840 1,210 Inventory 1,480 1,520 Common stock 3,200 3,000 Total current assets $2,530 $2,440 Retained earnings 530 710 Net fixed assets 3,150 3.600 Total assets $5,680 $6,040 Total liabilities & equity $5,680 56,040 930 Required: i. Using the information provided, show that the cash flows generated from assets in 2020 is used to pay the investors. (10) ii. How much External Financing will be needed for the year 2021 if the sale is expected to grow at company's sustainable growth rate? Use the percentage of sales approach, assuming that the firm is operating at 80% capacity. Round up all the values to the nearest figure. What are the funding options the firm has to meet the external financing needed? (15)