Conn Man's Shops, a national clothing chain, had sales of $320 million last year. The business has a steady net profit margin of 6 percent and a dividend payout ratio of 25 percent. The balance sheet for the end of last year is shown Assets Cash Accounts receivable Inventory Plant and equipment Balance Sheet End of Year (in $ millions) Liabilities and Stockholders Equity $ 22 Accounts payable 27 Accrued expenses 76 Other payables 115 Common stock Retained earnings $ 240 Total abilities and stockholders equity $ 28 44 44 52 $240 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 wool slacks A sales increase of 20 percent is forecast for the company All balance sheet items are expected to maintain the same percent of sales relationships as last yeat except for common stock and retained earnings No change is scheduled in the number of common stock shares outstanding and retained earnings will change as dictated by the profits and dividend policy of the form (Remember, the net profit margin is 6 percent) *This includes fixed assets, since the firm is at full capacity a. Will external financing be required for the company during the coming year? Yes No b. What would be the need for external finanong the net profit margin went up to 750 percent and the dividend payout ratio was increased to 50 percent? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer in dollars, not millions. (e.g.. $1,234,567.) Required new funds