1. If year end sales are expected to drop by 2%, and costs and NWC vary with sales, what will be the change in accounts receivable? Income statement numbers in millions

2. New Scenario: If revenues increase by 4,522,050,000 dollars in following year, what will be the projected retained earnings? Assume that rest. and imp, will grow at a rate 2x sales and other income grows at .5x sales. D/E, profit margin, and div payout are constant.

3. New scenario: If sales increase by 8%, what would the DFN be? Assume current liab. grow .5x sales and long-term liab. remain constant. D/E, prof. margin, and div. pay are constant.

Same as #3: If the company has 32 mil. shares outstanding and plans to sell 4 mil more at 85.98, the div pay ratio will grow by percent growth of shares outstanding. If this doesn't change current assets, how will DFN change from problem 3?