Con Man's Shops, a national clothing chain, had sales of $370 mition Last year. The business for the end of last year is shown next has a steady net prott margin of 6 percent and a dividend payout ratio of 25 pencent. The balance sheet End of Year Assets 37 Accounts payable Cash Accounts receivable Inventory S 67 35 06 32 Accrued expenses 78 Other payables 149 Common stock 45 74 74 Retained earnings $ 296 Total iabilities and stockholders equity S 296 Total assets The firm's marketing staff has told the president that in the coming year there will be a large increase in the demand for overcoats and t wool slacks. A sales increase of 10 percent is torecast for the company All batance sheet tems are expected to maintain the same percent-of-sales relationships as last year," except for common stock and retained eamings. No change is scheduled in the number of ofts and dividend policy of the im (Remember the net proft margin is 6 percent) common stock shares outstanding and retained earnings will change as dictated by the pr This inclades fixed assets since the fim is at full capacity a. Wia exdemal financing be required for the company during the coming year? O No Yes b. What would be the need for exsemal financing if the net proft margn went up to 7 50 percent and the dvidend payout ratio was increased to 60 percent?(Negative amount should be indicated by Do not round intermediate calculations. Enter your answer in dollars, not nillions. (e g , $1,23456) ) ed new funds