Syngen Ltd's 2019 balance sheet and income statement are shown below: Syngen Ltd. Balance Sheet as of December 31, 2019 Cash $ 200,000 Accounts payable $ 600,000 Receivables 400,000 Notes payable 500,000 Inventories 1,200,000 Long term debt 200,000 Net fixed assets 500,000 Shareholders' equity 1,000,000 Total assets $2,300]000 Total liabilities & equity $2,300,000 Syngen Ltd. Income Statement, Year Ending, Dec. 31, 2019 Sales $4,000,000 Expenses, including interest and taxes 3,700,000 Net income $ 300,000 Syngen forecasts sales of $6 million and net income of $400,000 for next year. The company paid $50,000 in dividends last year and expects to maintain the same dividend payout ratio for the next few years. Calculate the additional financing the firm will need over the next year in order to achieve sales of $6 million. Assume that all ratios remain constant and that any bank borrowing is non-spontaneous financing. Suppose that the firm's management feels that the average collection period on its additional sales-that is, sales over $4 million will be 60 days, instead of the current level. By what amount will the increase in the average collection period increase the financing needed by the firm over the next year? Independent of (a) and (b) above, assume that Syngen's fixed assets are only used at 75% of capacity. By what percentage could 2020 sales increase over 2019 sales without the need for an increase in fixed assets