Carter Paint Company has plants in four provinces. Sales last year were $$100$milli, and the balance sheet at year$-$end is similar in

percent of sales to that of previous years $($and this will continue in the future$).$ All assets and current llabilitles will vary directly with

sales. Assume the firm Is already using capital assets at full capacity.

The firm has an aftertax profit margin of $6$ percent and a dividend payout ratio of $30$ percent.

a$.$ If sales grow by $10$ percent next year, determine how many dollars of new funds are needed to finance the expansion. $($Do not

round Intermedlate calculatlons. Enter the answer In millilons. Round the final answer to $3$ decimal places.$)$

The firm needs $$,$ million in external funds.

b$.$ Prepare a pro forma balance sheet with any financing adjustment made to long$-$term debt. $($Do not round Intermedlate

calculations. Input all answers as positive values. Be sure to Ilst the assets and llabllitles In order of thelr llquility. Enter the

answers In millions. Round the flnal answers to $2$ decimal places.$)$

c$.$ Calculate the current ratio and total debt to assets ratio for each year. $($Do not round Intermedlate calculatlons. Round the final

answers to $1$ decimal places.$)$