(Financial forecasting-percent of sales) Next year's sales for Cumberfand Mfg are expected to be $16.10 million Current sales are $14 milfion, based on current assets of $467 million and fixed assets of $7.00 million. The firm's net profit margin is 3 percent after taxes. Cumbertand estimates that its current assets wil rise in direct proportion to the increase in sales, but that its fixed assets will incroase by only $200,000. Currently, Cumberfand has $1.50 million in accounts payable (which vary directly with sales), $2 million in long-term debt (due in 10 years), and common equity (including $3 millikn in retained earnings) totaling $8.17 million. Cumbertand plans to pary $0.16 million in common stock dividends next year: a. What are Cumberlands total financing needs (that is, total assets) for the coming year? b. Given the firm's projections and dividend payment plans, what are its discretionary financing needs? c. Based on your projections, and assurning that the $200,000 expansion in fixed assets will occur, what is the largest increase in sales the frm can support without having to resort to the use of discretionary sources of financing? a. What are Cumberiand's total financing needs (taht is, total assets) for the coming year? \$ million (Round to two decimal places.)