The 15 st recent balance sheet is as follow: Cashe 1,000,000 Accounts payable 700,000 Marketable securities 800,0004 Notes Payable 2,000,000 Accounts receivable 1,200,000 Accrualse 1,300,000 Inventory 2,000,000 Current liabilities 4,000,000 Current Assets 5,000,000 Long-term debt 5,400,000 Common stock 4,600,000 Fixed assets 15,000,000 Retained earnings 6,000,000 Total assets 20,000,000 Total liabilities and equity 20,000,000 The firm estimates sales will increase from $40 million to $50 million. The firm's profit margii is 5 percent, and its dividend payout ratio is 40 percent. The firm's fixed assets were used to only 96% of the capacity. [1] First, calculate AFA k [2] Using the AFN formula method, determine how much outside financing is required. Expand the following equation by plugging numbers in the last term. CA CA* L EFN=AFN= -AS + AFA -AS-MS (1-d) -AS+AFA -AS-MS (1-0) Falas: [3] Using the Pro forma statement method, determine how much outside financing is required. Plug numbers in the pro forma statement in below. Cash Marketable securities Accounts receivable Inventory Current Assets Accounts payable Notes Payable Accrualse Current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity AFN=EFN