9.1: Chapter Nine- Learning Outcomes Last updated Save as PDF Page ID 88566 Kenneth S. Bigel Touro University Learning Outcomes In this chapter, you will: Define , in words, both the “Free Cash Flow” and “External Funds Needed” Models Consider , both mathematically and in words, each element of the two formulae Forecast , given assumptions, both models for multiple forward years List some uses of the formulae Differentiate between Internal and External Funds, providing examples of each Determine the optimal future Debt-to-Total Assets ratio, given the EFN forecast Explain why a firm’s financial ratios may change