Problem:
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?