For the next fiscal year, you forecast net income of $50,000 and ending assests of $500,000. your firm's payout ratio is 10%. your beginning stockholders equity is $300,000 and your beginning total liabilities are $120,000. your non-debt liabilites such as accounts payable are forecasted to increase by $10,000.

what is you net new financing needed for next year? here is your hint for the week: ( from professor)additions to equity = net income x retention ratio= 50,000 x (1-.10) = 45,000show all work