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  3. a firm has the following balance sheet: cash $

A firm has the following balance sheet: Cash $ 50 Accounts payable...

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Finance

A firm has the following balance sheet:

Cash $ 50 Accounts payable $ 10

Accounts receivable 70 Notes payable 60

Inventory 80 Long-term debt 80

Fixed assets 100 Common stock 120

Retained earnings 30

Total liabilities

Total assets $300 and equity $300

Sales for the year just ended were $400, and fixed assets were used at 80 percent of capacity, but its current assets were at optimal levels. Sales are expected to grow by 10 percent next year, the profit margin is 5 percent, and the dividend payout ratio is 60 percent. How much additional funds (AFN) will be needed?

(If the answer is $1.23, enter 1.23)

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