Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Assets Cash 38 Accounts receivable 76 Inventory 114 Current assets 228 Machinary 152 Total assets 380 Income statement Sales Costs Depreciation EBIT Interest Taxable income Taxes Net income Liabilities and Equity Accounts payable 114 Current liabilities 114 Long-term debt 152 Total liabilities 266 Equity 114 Total liab. & equity 380 130 78 26 26 4.56 21.44 7.29 14.15 Sales, costs (including depreciation), assets and liabilities are expected to grow by 35% next year, except that the tax rate and long-term debt will stay constant. The company will pay out 80% of net income as dividends next year. (hints: if long-term debt stays unchanged next year, what should be the forecast of interest expense?) Sales, costs (including depreciation), assets and liabilities are expected to grow by 35% next year, except that the tax rate and long-term debt will stay constant. The company will pay out 80% of net income as dividends next year. (hints: if long-term debt stays unchanged next year, what should be the forecast of interest expense?) Part 1 What will be the net income next year (in $ million)? 1+ decimals Submit Show all parts Attempt 1/10 for 10 pts.