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What is the external financing needed for next year

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Intro - Dell Computers sells computers and related electronics online. Its most recent income statement and balance sheet are given below:

Income statement ($ million) Balance sheet ($ million)

Sales 700           Current assets 274              Debt 411

Costs 560          Fixed assets 1,096          Equity 959

Net income 140  Total assets 1,370           Total 1,370

Sales, assets and costs are expected to grow by 28%, next year. The company is expected to pay NO dividend next year, and wants to keep its debt-equity ratio constant.

Question 1: What is the external financing needed (EFN) for next year (in $ million)?

Reference no: EM132634825

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