Carter Paint Company has plants in four provinces. Sales last year were $100 million, and the balance sheet at year-end is similar percent of sales to that of previous years (and this will continue in the future). All assets and current liabilities will vary directly with sales. Assume the firm is already using capital assets at full capacity. The firm has an aftertox profit margin of 4 percent and a dividend payout ratio of 35 percent. 6. If sales grow by 10 percent next year, determine how many dollars of new funds are needed to finance the expansion. (Do not found intermediate calculations. Enter the answer in millions. 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 odjustment made to long-term debt (Do not round intermediate caleulations. Input all onswers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the enswers in millions. Round the final answers to 2 decimal places.) b. Prepare a pro forma balance sheet with any financing adjustment mode to long-term debt (Do not round intermediate calculations. Input all answers os positive values. Be sure to list the assets and liabilities in order of their liquidity. Enter the answers in millions. Round the final answers to 2 decimal places.) - Calculate the current ratio and total debt to assets rotio for each year. (Do not round intermediate calculations. Round the final nswers to 1 decimal places.)