5.00 points Conn Man's Shops, a national clothing chain, had sales of $350 milion last year. The business has a steady net profit margin of 9 percent and a dividend payout ratio of 25 percent. The balance sheet for the end of last year is shown next Cash Accounts receivable Inventory Plant and equipment Balance Sheet End of Year (in 5 milions) Labs and Stockholders' Equity $ 25 Accounts payable 40 Accrued expenses 82 Other payables 133 Common stock Retained earnings $ 280 Total liabilities and stockholders' equity Total assets The firm's marketing staff has told the president that in the coming year there will be a large increase in the demand for overcoats and wool stacks A sales increase of 20 percentis forecast for the company All balance sheet items are expected to maintain the same percent of sales relationships as last year except for common stock and retained earnings No change is scheduled in the number of common stock shares outstanding and retained earnings will change as dictated by the profits and dividend policy of the tum Remember the nel profit margin is 9 percent) *This includes fixed assets since the firm is a full capacity a. Will external financing be required for the company during the coming year? No Yes b. What would be the need for external financing of the net profit margin went up to 10 5 percent and the dividend payout ratio was increased to 60 percent? Do not round intermediate calculations Enter your answer in dollars, not millions (e... $1.234,567). Required new funds 5 C ING