Cosmos Inc. had sales of $250 millions in 2020 and expects sales to grow by the internal growth rate of 19% by the end of next year (year 2021). Cosmos is also forecasting net income to be $12 millions by the end of next year. The firm maintains a payout ratio of 40%. Using the percent sales method, What is your net new financing needed for next year?: Assets ($ mill) Year 2020 Liabilites & Equity ($ mill) Year 2020 Cash & Cash Equivalents 11 Accounts Payable 24 Account Receivables 46 Long-term Debt Inventories 37 Total Liabilities 91 PPE 184 Retained Earnings Total Assets 278 Common Stock 181 Total Stockholders Equity 187 Total Liab. + Equity 278 67 6 Net Financing needed - $52.82 millions Net Financing needed - $80.14 millions Net Financing needed - $0.00 millions O Net Financing needed - $41.06 millions