A firm's balance sheet as of December 31 is shown below. The firm's sales for the year were P1,000,000,000, and its after-tax margin on sales was 5%. Sales are expected to increase next year to P1,300,000,000, and it plans to distribute 50% of its net profits to stockholders. Based on the percentage-of-sales method, the amount of funds that must be obtained externally by borrowing or by selling new stock is Assets (P millions) Liabilities (P millions) Cash P 50 Accounts payable P 30 Accrued taxes & Receivables 130 40 wages Inventories 150 Mortgage bonds 130 Net fixed assets 220 Common stock 150 Retained earnings 200 P165 million. P65 million. P144 million. P111.50 million