Using the percentage of sales method, what will be the net income next year (in $ million)? Correct Part 2 Using the percentage of sales method, what will be the book value of equity next year (in $ million)? Correct Addition to retained earnings (equity): E=(1d)Netincome=(10.3)14.97=10.48 New book value of equity: E1=E0+E=30+10.48=40.48 Model Corp.'s most recent balance sheet and income statement are given below (all numbers in $ million): Sales, assets and costs (including depreciation) are expected to grow by 32% next year, while the tax rate and long-term debt will stay constant. The company pays out 30% of net income as dividends. Using the percentage of sales method, what will be the book value of equity next year (in \$ million)? Correct Addition to retained earnings (equity): E=(1d)Netincome=(10.3)14.97=10.48 New book value of equity: E1=E0+E=30+10.48=40.48 Part 3 Attempt 6/10 for 6p What is the g needed (EFN) for next year (in \$ million)