Assignment:
Year Ended - Balance Sheet ($1,000s)
Cash
20
Accounts Payable
20
Accounts Receivable
20
Notes Payable
40
Inventory
20
Long Term Debt
80
Fixed Assets
180
Common Stock
80
Retained Earnings
20
Total Assets
240
Total Liabilities and Equity
240
Sales for the year just ended were $400, and fixed assets were used at 80% of capacity, but its current assets were at optimal levels. Sales are expected to grow by 10% next year, the profit margin is 5% and the dividend payout ratio is 60%. How much additional funds (AFN) will be needed?