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Note: Unites in Millions of USD Income Statement AFN Calculation Statements including AFN 2020 2020 Sales Cost of goods sold Sales General and Administrative expenses Depreciation Operating profit (EBIT) Interest expenses Intereses sobre nueva deuda Total interest expenses Taxable income Taxes Net Income Historical 2019 $ 4,512.44 $ 2,863.77 $ 814.60 $ 225.62 $ 608.45 $ 105.73 $ $ 105.73 502.72 150.82 351.90 Dividends To retained earnings $ $ 104.89 247.01 Balance Sheet Cash Inventory Accounts Receivable Total Current Assets Property, plan, and equipment Total Assets Historical 2019 45.12 $ 590.08 $ 1.128.11 $ 1763.31 $ 2.249.63 $ 4,012.94 Accounts payable Accrued expenses Short-term debt Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total equity Total liabilities plus equity 451.24 225.62 $ 333.45 1,010,31 $ 1.000.00 $ 2.010.31 $ 600.00 $ 1.402.63 $ 2.002.63 $ 4,012.94 AFN The objective of this exercise is to calculate the AFN for 2020 and balance the balance sheet. Assume that sales grow by 20% in 2020. Calculate Additional Funds Needed for 2020 assuming the operating accounts in the income statement and balance sheet are a percentage of sales, and the financial accounts remained constant except retained earnings where you might retain earnings. Estimate the value for each of the accounts for 2020 in column C to estimate the Additional Funds Needed. In column D, show the balance sheet balanced assuming that (1) if you have excess funds, you distribute a special dividend, and (2) if you need external funds, you increase short-term debt. Assume that the tax- rate is 30% and you are working at 100 percent capacity