Model Corp's most recent balance sheet and income statement are given below (all numbers in million 49 98 Assets Cash Accounts receivable Inventory Current assets Machinery Total assets Liabilities and Equity Accounts payable 147 Current liabilities 147 Long-term debit 196 Total liabilities 343 Equity 147 Total lib. & equity 480 294 196 490 100 60 Income statement Sales Costs Depreciation EBIT Interest Trocable income 20 20 102 Net Income 3.458 6.73 Sales, assets and costs including depreciation are expected to grow by 28% next year, while the tax rate and long-term debt will stay constant. The company pays out 30% of net income as dividends. Part 1 #BA 110 for 10 pts Using the percentage of sales method, what will be the net income next year in s million 1+ decimais Subm Part 2 Anemt 10 for 10 Using the percentage of sales method, what should be the book value of equity by end of next year as a rest of net income and dividend payout before my EN funded in mo? SU Part 3 Intro Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): 49 98 Assets Cash Accounts receivable Inventory Current assets Machinary Total assets 147 294 196 490 Liabilities and Equity Accounts payable 147 Current liabilities 147 Long-term debt 196 Total liabilities 343 Equity 147 Total liab. & equity 490 100 Income statement Sales Costs Depreciation EBIT 60 20 20 9.8 Interest Taxable income 10.2 3.468 Taxes Net income 6.73 Sales, assets and costs (including depreciation) are expected to grow by 28% next year, while the tax rate and long-term debt will stay constant. The company pays out 30% of net income as dividends. Part 1 IB Attempt 1/10 for 10 pts. Using the percentage of sales method, what will be the net income next year (in $ million)? 1+ decimals Submit Part 2 IS- Attempt 1/10 for 10 pts. Using the percentage of sales method, what should be the book value of equity by end of next year as a result of net income and dividend payout before any EFN is funded (in $ million)? 0+ decimals Submit Part 3 IB Attempt 1/10 for 10 pts. What is the external financing needed (EFN) for next year (in $ million)? 0+ decimals Submit