14,15,16 pls

13. Brown & Sons recently reported sales of $100 million, and net income equal to $5 million. The company has $70 million in total assets. Over the next year, the company is forecasting a 20 percent increase in sales. The company also estimates that if sales increase 20 percent, spontaneous liabilities will increase by $2 million. The company's dividend payout ratio is 40 percent. The projected increase in assets is: a. $ 2,000,000 b. $ 3,600,000 C. $ 8,400,000 d. $ 9,600,000 e. $14,000,000 14. Referring to the given in question 13, the increase in retained earnings is: a $ 2,000,000 O b. $ 3,600,000 O c. $ 8,400,000 d. $ 9,600,000 e. $14,000,000 15. Referring to the given in question 13, the increase in spontaneous liabilities is: * a. $ 2,000,000 O b. $ 3,600,000 O c. $ 8,400,000 O d. $ 9,600,000 e. $14,000,000 16. Referring to the given in question 13 and based on the AFN formula, how much additional capital must the company raise to support the 20 percent increase in sales? * a $ 2,000,000 O b. $ 6,000,000 O c. $8,400,000 O d. $ 9,600,000 O e. $14,000,000