1. The Borowiak Rose Water Company expects with some degree of certainty to generate the following net income and to have the following capital expenditures during the next five years (in thousands of dollars): Borowiak's Rose target capital structure consists 90% equity and 10\% Debt. Borowiak's Rose follows a residual distribution policy with all distributions as dividends. The company currently has 1 million shares of common stock outstanding and pays annual dividends of $1 per share a) Determine the dividend payout ratio each year. if dividend policy is treated as a residual decision. b) Determine dividends per share if dividend policy is treated as a residual decision. c) Determine the external financing required in each year if current DPS $1 is maintained if dividend policy is treated as a residual decision d) Determine the amounts of external financing that will be necessary if a dividend-payout ratio of 50 percent is maintained. The Borowiak Rose Water Company expects with some degree of certainty to generate the following net income and to have the following capital expenditures during the next five years (in thousands of dollars): orowiak's Rose target capital structure consists 90% equity and 10% Debt. Borowiak's Rose llows a residual distribution policy with all distributions as dividends. The company currently as 1 million shares of common stock outstanding and pays annual dividends of $1 per share a) Determine the dividend payout ratio each year. if dividend policy is treated as a residual decision. b) Determine dividends per share if dividend policy is treated as a residual decision. c) Determine the external financing required in each year if current DPS $1 is maintained if dividend policy is treated as a residual decision d) Determine the amounts of external financing that will be necessary if a dividend-payout ratio of 50 percent is maintained