Consider the following information for the percentage of sales approach: Sales = $3M, NI = $0.6M, Retention ratio = 0.75 Total Asset = $4M Current Liability $0.2M Long-term debt = $1M Equity = $2.8M If sales increase by 25% (and NI, assets, and CL increase at the same rate), calculate the external financing needed. Group of answer choices 0.555 0.388 0.723 0.890 0.220