Please Help,

You have the following information from 2020 and are looking to forecast 2021. In 2021 you expect sales to be equal to $11 million. Using the "Percent-of-Sales" model, what amount of additional external financing is needed to fund a growth in sales if Net Income is 5% of 2021 sales?

Account	2020 Information
Cash	36% of Sales
Accounts Recievable	47% of Sales
Inventories	32% of Sales
Noncurrent Assets	60% of Sales
Accounts Payable	42% of Sales
Debt	$ 5.3 Million
Equity	$ 8 Million
Pay Out Ratio	33%
Sales	$ 10 Million

A) $854,500

B) $1,330,000

C) $961,500

D) $780,000