In 2019, your firm reported $6,000,000 in sales. The firm hopes to increase sales by 10% in 2020. The firm has a 7% profit margin, and the firm normally pays out 35% of its net income as dividends. The firm has $8,000,000 in total assets on its balance sheet, and the firm also has $1,000,000 in long-term debt. The firm has $750,000 in accounts payable, and no accruals. What additional funds, if any, does the firm need to finance the sales expansion? Question 11 (8 points) Your firm is trying to forecast its net income for 2020, but it is uncertain about the potential risks. The firm does know the following probabilities of potential net incomes, though. What is the firm's expected net income based on the information below? State of the Firm Booming Performance Average Performance Below Average Performance Poor Performance Probability 50% 20% 20% 10% Predicted Net Income $3,000,000 $1,500,000 $800,000 -$450,000