 external financing needed and growth are related with each other. अगर अक फाँम को अपने assets में growth की जोड़त है, तो उस गरोथ को finance करने के लिए firm को external funds raise करना पड़ेंगे. तो this means that there is a direct link between external financing needed and growth rates. पिष्ली एक जमपल में हमने growth rate को given item के तोर पर लिया था और हमने find out किया था के इस गरोथ को finance करने के लिए कितनी financing externally firm को जोड़त पेष आए गी इसी continuation में हमें को लिए एक जमपल देकते हैं जिस की अंदर हम growth rate को given item के तोर पर लेंगे और हम यह देकेंगे के financial policy affirms ability to finance the growth इस इन दो variables का आपस में क्या relationship है अरेक सक carefully remember that growth is an easy way to examine the interaction between investment and financing decision a simple case is there in which we assume that sales growth rate is 20% a single total debt only would be there, this means that there would be no current liabilities or spontaneous liabilities that would require interaction with reference to the sales अपन्तीणी स्यात्रीक तो, तो उस्ठो बी आँख लगा स्गाँता, वयाते कि अपन्तीद् कि लिए बbero होता इस चानली लगा। यह अपने स्पन्ताः करिज़ के जाईगाम रीगते ञाँफ्ता है. ऎते आपन्तीग का मुन्तीखे लिए जागा पूत होता । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । । 金 as dividend there is a retention of $44 Which is $2面 of the net income after tax in balance sheet we have current assets and net fixed assets which are in terms of percentage of sales are 40% and 60% respectively total debt is $250 and Honours equity is $250 ynamally note that the debt equity ratio in this particular case is only 1 . if we grow our sales by 20% we see an increase of 100 dollars in sales 80 dollars in cost and taxable income comes to $120 after 34% tax rate the net income after takes is $79.2 च brigade is 52.8 dön है ृ जिlarly we grow our asset by 20 %. 백 only 2.support 같아ह कafa, reflections, दिन छीर थान Kṛṣṇa contrary parts forward पुर oil at Along with ॑armula art चकत मिदनकी भार परसटाँचम गो at चकतपा सकिवटुन अ�anding उinch प Yeon when we add 52.8 as retention to the retained earnings and the liabilities and honors equity side when we add our retained earnings of 52.8 to the honors equity it comes to $302.8 so there is a shortage of $47.2 in order to equalize this side with the assets side now what to do if a firm does not want to raise equity then the firm has the only option to raise debt so that it can finance the growth in its assets there is a projection that shows the relationship between growth and external funds needed we see that at 0% growth rate there is addition to retained earnings by $44 and since we do not want growth so on this zero growth rate this $44 will be used to pay the firm's debt as a result of which the firm's debt will be less than $250 and come to $206 and due to this decrease the firm's debt equity ratio will also change but as soon as this growth rate increases we see that at 10% external financing needed comes near $6 which means that instead of surplus you are going to loss or deficit and if the growth rate continues just over 20% the debt equity ratio passes to 1 this means that the firm is still in the process of deficit and it needs external finances in order to finance its projected growth you can see relationship between sales and financing which is shown with the help of increase in assets required and projected increase in additional retained earnings at zero growth rate there is a decline by $44 in debt this point tak ab deek sakte hain ki external financing zero se ke firm ke paas enough amount of surplus bada hua hain in order to finance its growth in in assets is ke matlabhi hua ke firm iss rate tak bgayar kisi external finance ki madad ke apni growth ko sponsor kr sakte hain it se upar agar ham jaate hain to ham ye dekthe hain ke assets ki andur jo growth aari hai wo zyada tez rate se aari hai by nisbhat retained earnings ke jiske netijay mein internal financing itni zyada firm ko chahiye ki retained earnings tezi ke saath patam ho rahi hain now either a firm has a cash surplus aur a cash deficit it depends that how much increase in retained earnings is there if the firm has cash surplus then the rate of growth in asset is definitely lesser than the increase in retained earnings and vice versa is there