Assume Windsor Corporation is utilizing its fixed assets at 90% capacity. Assume costs, accounts payable, and current assets vary directly with sales, and that the dividend payout ratio remains unchanged. If sales increase by 20%, what will total fixed assets be? Is there an external financial need? If yes, by how much? Windsor Corporation Income Statement ($ in millions) Sales $300 Costs 250 EBT $50 Taxes (34%) 17 Net income $33 22 Retained earnings Dividends 11 Windsor Corporation Balance Sheet (s in millions) $5 Accounts Payable $40 Cash 40 Accounts receivables 30 Notes payable Current liabilities Inventory 65 $70 Windsor Corporation Balance Sheet ($ in millions) Cash $5 $40 Accounts Payable Notes payable Accounts receivables 40 30 Inventory 65 Current liabilities $70 Current assets $110 Long-term debt 155 Net plant & equip. 290 Common stock 75 Retained earnings 100 Total assets $400 $400 Total liability & equity