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Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Sales, costs (including depreciation), assets and liabilities are
Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Sales, costs (including depreciation), assets and liabilities are expected to grow by 25% next year, except that the tax rate and long-term debt will stay constant. The company will pay out 60% of net income as dividends next year. What will be the net income next year (in \$ million)? What should be the equity balance by the end of next year as a result of net income and dividend payout but before any EFN is funded (in \$ million)? Part 3 Attempt 2/10 for 9pt What is the external financing needed (EFN) for next year (in \$ million)
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