Additional Funds Needed AFN ABC Inc makes bulk purchases of ladies bags and related products. The inventories are placed in a conveniently located warehouses before shipping them to its chain of retail stores. ABC Inc's balance sheet as of Dec 31, 2021 is as follows (in millions of pesos ) Cash P 3.5M receivables 26 Inventories 58 Accounts payable P 9 Notes payable 18 Accrued liabilities 8.5 Total current assets P 87.5 Total current liabilities P 35.5 Net fixed assets 35 Mortgage loan 6 Common Stock 15 Total Assets P 122.50 Retained earnings 66 Total Liabilities and Stockholders Equity P 122.50 Sales for 2021 were P 350M while net income for the year was P 10.5M. In 2021, the company paid dividends of P 4.2M to common stockholders. The firm is operating at full capacity. assume all ratios remain constant. If sales are projected to increase by P 70M, or 20% during 2022, use the AFN equation to determine the firm's external capital requirements?