For the next fiscal$$ year, you forecast net income of $ $48$ comma $100$ and ending assets of $ $509$ comma $600.$ Your$$ firm's payout ratio is $9\mathrm{.}8\%.$ Your beginning$$ stockholders' equity is $ $299$ comma $300,$ and your beginning total liabilities are $ $120$ comma $100.$ Your$$ non$-$debt liabilities, such as accounts$$ payable, are forecasted to increase by $ $9$ comma $600.$ What will be your net new financing needed for next$$ year?

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Part $1$

The net financing required will be $$$

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