Explain how the following scenario will affect a firms AFN next year (holding other things else constant.

2.1 The sales growth forecast for next year has been revised up from 8% to 12%.

2.2 Suppliers agree to extend the trade credit period from 15 days to 30 days next year onwards.

2.3 The management plans to increase dividend payout ratios next year from 30% to 50% of net income.