$7.($End$-$of$-$chapter numerical problem $9\mathrm{.}1-9\mathrm{.}3)$ Broussard Skateboard$$s sales are expected to increase by $15\%$ from $$8$ million in $2013$ to $$9\mathrm{.}2$ million in $2014.$ Its assets totaled $$5$ million at the end of $2013.$ Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of $2013,$ current liabilities were $$1\mathrm{.}4$ million, consisting of $$450,000$ of accounts payable, $$500,000$ of notes payable, and $$450,000$ of accruals. The after$-$tax profit margin is forecasted to be$6\%,$ and the forecasted payout ratio is $40\%.$ Answer the following questions.

a$.$ Use the AFN equation to forecast Broussard$$s additional funds needed for the coming year.

b$.$ What would be the additional funds needed if the company$$s year$-$end $2013$ assets had been $$7$ million? Assume that all other numbers, including sales, remain the same. Why is the AFN different in this scenario? Is the company$$s $$capital intensity$$ ratio the same or different?

c$.$ Return to the assumption that the company had $$5$ million in assets at the end of $2013,$ but now assume that the company pays no dividends. Under these assumptions, what would be the additional funds needed for the coming year? Why is this AFN different from the one you found in part a$?$

$8.($Instructor Problem $$ no solutions$)$ The Henley Corporation is a privately held company specializing inlawn care products and services. You are given data for the most recent fiscal year, $2007.$

Income Statement for the year ending December $31($Millions of Dollars$)2007$

Net sales $$800\mathrm{.}0$

Operating Costs $($except depreciation$)576\mathrm{.}0$

Depreciation $60\mathrm{.}0$

Earnings before interest and taxes $($EBIT$)$ $$164\mathrm{.}0$

Less interest $32\mathrm{.}0$

Earnings before taxes $$132\mathrm{.}0$

Taxes $(40\%)52\mathrm{.}8$

Net income available for common stockholders $$79\mathrm{.}2$

Number of shares $($in millions$)10$

Balance Sheet for December $31($Millions of Dollars$)2007$

Assets

Cash $$8\mathrm{.}0$ Accounts payable $$16\mathrm{.}0$

Marketable securities $20\mathrm{.}0$

Accounts receivable

Inventories $160\mathrm{.}0$

Total current Assets $268$

Net Property, Plant and equipment $600$

Liabilities and Equity

Accounts payable $16$

Notes payable $40$

Accruals $40$

Total Current liabilities $96$

Long Term Bonds $315$

Further, the ratios and selected information for the current and $2008($next fiscal year$)$ are shown below.

Actual Projected

$20072008$

Sales growth rate $($nothing given $2017)15\%(2008)$

Operating Costs$/$Sales $72\%60\%$

Depreciation$/$Net PPE $1010$

Cash$/$Sales $11$

Accounts Receivable$/$Sales $1010$

Inventories$/$Sales $2020$

Net PPE$/$Sales $7575$

Accounts payable$/$Sales $22$

Accruals$/$Sales $55$

Tax rate $4040$

Using this data, answer the following questions:

a$.$ If percent of sales method is used to forecast financial statements, which line items can be expected to grow approximately with the sales, and which ones are not?

b$.$ Using the percent of sales method, forecast the external financing needs for $2008($ignore$,$ how financing is raised$)$

c$.$ A firm's additional funds needed $($AFN$)$ must come from external sources. What are the typical external sources?

$9.($End$-$of$-$chapter numerical problem $9\mathrm{.}6)$ The Booth Company$$s sales are forecasted to double from $$1,000$ in $2013$ to $$2,000$ in $2014.$ Below is the December $31,2013$ balance sheet:

Cash $$100$

Accounts receivable $200$

Inventories $200$

Net fixed assets $500$

Total Assets $$1000$

Accounts payable $$50$

Notes payable $150$

Accruals $50$

Long$-$term debt $400$

Common stock $100$

Retained earnings $250$

Total liabilities $$1,000$

Booth$$s fixed assets were used to only $50\%$ of capacity during $2013,$ but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth$$s after$-$tax profit margin is forecasted to be $5\%$ and its payout ratio to be $60\%.$

What is Booth$$s additional funds needed $($AFN$)$ for the coming year?

These are practice problems so if you can break them down step by step I would appreciate it