$

million

Using the AFN equation, determine Upton's self$-$supporting growth rate. That is$,$ what is the maximum growth rate the firm can achieve without having to employ nonspontaneous external funds? Round your answer to two decimal places.

$\%$

Use the forecasted financial statement method to forecast Upton's balance sheet for December $31,2020.$ Assume that all additional external capital is raised as a line of credit at the end of the year and is reflected $($because the debt is added at the end of the year, there will be no additional interest expense due to the new debt$).$ Assume Upton's profit margin and dividend payout ratio will be the same in $2020$ as they were in $2019.$ What is the amount of the line of credit reported on the $2020$ forecasted balance sheets? $($Hint: You don't need to forecast the income statements because the line of credit is taken out on the last day of the year and you are given the projected sales, profit margin, and dividend payout ratio; these figures allow you to calculate the $2020$ addition to retained earnings for the balance sheet without actually constructing a full income statement.$)$ Enter your answers in millions. For example, an answer of $$10,550,000$ should be entered as $10\mathrm{.}55.$ Round your answers to two decimal places.

Upton Computers

Pro Forma Balance Sheet

December $31,2020$

$($Millions of Dollars$)$

Cash $

Receivables $

Inventories $

Total current assets $

Net fixed assets $

Total assets $

Accounts payable $

Notes payable $

Line of credit $

Accruals $

Total current liabilities $

Mortgage loan $

Common stock $

Retained earnings $

Total liabilities and equity $