At end of this year, the assets of a firm are $170.1 million. On the funding side of the balance sheet, the long-term debt is $113.2 million, shareholders equity is $22.2 million, and accounts payable is $34.7 million. The net profit at the end of this year is $2.1 million. By the end of next year, the firm expects to grow at 8.0% and payout 50.0% of its net profits as dividends. Using a percentage sales model and assuming profits grow according to this model, 1) What are the forecasted assets at the end of next year? $ million (Give answer to 3 decimal points) 2) What is the forecasted equity at the end of next year if no new equity is issued?\$ million (Give answer to 3 decimal points) 3) What is the forecasted total debt and equity at the end of next year? $ million (Give answer to 3 decimal points) 4) What is the amount of new debt issued next year?\$ million (Give answer to 3 decimal points) 5) If next year the firm can only issue $9 million in new debt, to what must it cut the payout ratio? % (Give answer as percentage to 2 decimal points)