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15. Chua Chang & Wu Inc. is planning its operations for next year, and the...

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Accounting

15. Chua Chang & Wu Inc. is planning its operations for next year, and the CEO wants you to forecast the firm's additional funds needed (AFN). Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Last year's sales = S0 $200,000 Last year's accounts payable $50,000 Sales growth rate = g 40% Last year's notes payable (to bank) $15,000 Last year's total assets = A0 $135,000 Last year's accruals $20,000 Last year's profit margin = M 20.0% Target payout ratio 25.0%

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