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Intro Haier sells household electronics online. Its 2020 income statement and end of 2020 balance sheet are given below: Income statement ($ million) Sales 640
Intro Haier sells household electronics online. Its 2020 income statement and end of 2020 balance sheet are given below: Income statement ($ million) Sales 640 Costs 512 Net income 128 Balance sheet ($ million) Current assets 230 Fixed assets 920 Total assets 1,150 Debt 345 805 Equity Total 1,150 Sales, assets and costs are expected to grow by 31% for 2021. The company is expected to pay out 40% of net income as dividends and to keep its debt-equity ratio constant in 2021. Attempt 1/3 for 10 pts. Part 1 What is the external financing needed (EFN) for year 2021 (in $ million)? 0+ decimals Submit
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