25 26 30 The following is the balance sheet for CM shops Inc. CM Shops Inc Balance Sheet (in Millions) Assets Liabilities and Shareholders Equity Cash 40 Acct Payable 75 Acct Receivable 38 Inventory 42 Long Term Debt Fixed Assets 180 Common Stock and Retained Earnings Total Assets 300 Total Liabilities & Shareholder Equity Part A Sales for last year were $280 million, and are expected to grow by 15 for next year. All assets and current liabilities will vary directly with sales. The firm is working at full capacity. The business has a steady net profit margin of 6% and a dividend payout ratio of 40% Calculate the amount of external funds required to finance this growth using the percentage of sales method. Enter your answer to 3 decimal places in millions of dollars. -> External financing required is 145 300 Part B. Now assume that the firm's fixed asset utilization last year was at 95 and the firm was not operating at full capacity What is your projection for the level of fixed assets required to reach the sales growth forecast in part A. Enter your answer to 2 decimal places in millions of dollars Part A Sales for last year were $280 million and are expected to grow by 15 for next year. All assets and current liabilities will vary directly with sales. The firm is working at full capacity. The business has a steady net profit margin of 6% and a dividend payout ratio of 40%. Calculate the amount of external funds required to finance this growth using the percentage of sales method Enter your answer to 3 decimal places in millions of dollars. -> External financing required is Part B. Now assume that the firm's fixed asset utilization last year was at 95% and the firm was not operating at full capacity. What is your projection for the level of fixed assets required to reach the sales growth forecast in part A. Enter your answer to 2 decimal places in millions of dollars What would the external financing needed? Enter your answer to 3 decimal places in millions of dollars