Question 16 7 points The following is the balance sheet for CM shops inc. CM Shops Inc Balance Sheet (in Millions) Assets Liabilities and Shareholders Equity Cash 40 Acct Payable 75 Acct Receivable 38 Inventory 42 Long Term Debt 80 Fixed Assets 180 Common Stock and Retained Earnings 145 Total Assets 300 Total Liabilities & Shareholder Equity 300 Part A Sales for last year were 5280 million, and are expected to grow by 159 for next year. All assets and current liabilities will vary directly with sales. The firms working at full capacity. The business has a steady net profit margin of 6%, and a dividend payout ratio of 40% Calculate the amount of external funds required to finance this growth using the percentage of sales method. Enter your answer to 3 decimal places in milions of dollars. External financing required is 40 ENG o RI SD han