A company's sales in 2020 were $3.3 million and its total spontaneous assets were $3.1 million. Also in the same year, the firm's spontaneous liabilities consisted of $1.2 million in wages payable, $6.4 million in accounts payable, and $1.3 million in accrued expenses. The firm's profit margin is 5.9% and its dividend payout ratio is 9.9%. The balance sheet at year-end is similar in percentage of sales to that of previous years and this will continue in the future. Required: What is the percentage increase in sales that the company must achieve in order to avoid raising funds externally? Note: The term "k" is used to represent thousands (* $1,000), % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23) Afirm's annual credit sales are $1.48 million, with 48.4% of its daily average paid out in purchases. It usually takes the company 33 days to meet its purchasing obligations. This payment pattern has not changed in recent years. However, the firm's commitment to accounts receivable has shim based on its current annual net income of $27.99k which meets the 3.82% required return, anticipated by senior management a year earlier. Normally, the firm collects its accounts in 22 days, an average which remains unaffected. Required: In percentage terms, by how much are the firm's receivables greater (or less) than its payables? Note: The term "k" is used to represent thousands (* $1,000). % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)