Several factors affect a firm's need for external funds. Evaluate the effect of each following factor and place a check next to each factor. that is likely to increase a firm's need for external capital$-$that is$,$ its AFN $($additional funds needed$).$ Check all that apply.

The firm increases its dividend payout ratio.

The firm's inventory turnover decreases, with no effect on the sales forecast and the cost of goods sold as a percentage of sales.

The firm was planning on expanding its production facility, but its management recently decided that the expansion was not necessary.

Accounts payable and accrued liabilities represent obligations that the firm must pay off. Assuming everything else holds constant, if they increase, the firm's AFN will $$