Cirbsad Corporation's sales are expected to increase fram $5 million in 2021 to 55 million in 2022 , or by 20%, its assets totaled 54 million at the end of 2021 . Carlsbad is at fiat cipboty, 30 its assets must grow in proportion to projected sales. At the end of 2021 , current babalies are 11 milion, consisting of 1250;000 of accounts payable, $500,000 of notes perable, and 5250,000 of accrued liablities, fis profit margin is forecasted to be 5%. a. Assume that the company pays no dividends. Use the AFN equation to forecast the additonal funds Carisbad will need for the coming year. Write out your answer comoleteliv. Far example, 5 milion should be entered as 5,000,600. Reund your answer to the neareit doilar: 18 b. Why is this AFv diferent from the one when the cempany pays dividends? 1. Unger this scenano the company would have a higher level of retained camings, which would reduce the amount of additional funds needed. 11. Under this stenaris the company would have a Nigher level of retained earnings, which nould reduce the amount of assets needed. III. Under this scenario the company would have a Nigher level of spontaneous labitites, which would reduce the amount of additional funds needed. N. Under this scerario the company would have a lower level of retained earmings, which would increase the amount of additional funds needed. V. Under this scenario the company would have a lower level of retained earpings, which would decrease the amount of additional funds needed