LARGE FIRM Simplified Income Statement Current Year (millions) Revenue 20,450 (Sales) Cost 12,220 Net 8,230 Income LARGE FIRM Simplified Balance Sheet ASSETS Current LIABILITIES & EQUITY Current Year (millions) Year (millions) Assets 125,650 Debt 100,520 Total Assets Equity 25,130 Total 125,650 Liabilities 125,650 & Equity Scenario: The income statement and balance sheet for Large Firm are given above. Large firm expects their sales to increase by 5% next year. Their costs and assets are proportional to sales, but debt and equity are not. Large firm wants to maintain a constant dividend payout ratio and they paid out 4,115 million in dividends this year. What is the forecasted external financing needed for Large Firm?