A company expects sales to increase during the coming year, and it is forecasting the additional capital that it must raise. Which of the following conditions would have a negative impact on cash available to support operations (i.e., cause additional funds needed (AFN) by the firm to increase)?

	a.	The company previously thought its fixed assets were being operated at full capacity, but now it learns that it actually has excess capacity.
	b.	The company increases its dividend payout ratio.
	c.	The company decides to stop taking discounts on purchased materials.
	d.	The companys profit margin increases.
	e.	The company begins to pay employees monthly (i.e., at the end of the month) rather than weekly.