Question: Tozer Computers makes bulk purchases of small computers, stocks them in conveniently- located warehouses, and ships them to its chain of retail stores. Tozer's balance

 Tozer Computers makes bulk purchases of small computers, stocks them in

Tozer Computers makes bulk purchases of small computers, stocks them in conveniently- located warehouses, and ships them to its chain of retail stores. Tozer's balance sheet as of December 31, 20x1, is shown here (millions of dollars): 3. $ 9.0 Accounts payable Notes payable Accruals S 3.5 Cash 18.0 Accounts Receivable Inventory Total current assets $87.5 Net fixed assets 26.0 58.0 8.5 $ 35.5 Total current liabilities 6.0 Mortgage loan 35.0 15.0 Common stock Retained earnings Total liabilities and equity 66.0 $122.5 $122.5 Total assets Sales for 20x1 were $350 million, while net income for the year was $10.5 million. Tozer paid dividends of $4.2 million to common stockholders. The company is not operating at full capacity. Assume that all ratios remain constant projected to increase by $70 million, equation to determine Tozer's projected external capital requirements. or 20 percent, during 20x2, use the EFR If sales are

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