The following is the balince sheet of XYZ L.td as at 317 December 2001 is as follows: Additional Information: 1) For the year ended 31st Dec 2001 , sales amounted is KES 240 million. The firm projects that sales will increase by 15% in year 2002 and 20% in year 2003. 2) The after tax profit on sales has been 11% but the management is permistic about future operating costs and intends to use after tax profit on sales of 8%.a. 3) The firm intends to maintain its dividend pay out ratio of 80%. Assets are expected to vary directly with sales while trade creditors and accrued expenses form the spontaneous sources of financing. Any external financing will be effected through the use of commercial paper. Activate Windows Go to Settings to activate Wind Required: a) Determine the amount of external finance required for the next two years. (10 Marks) (10 Marks)