Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were...
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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary directly with sales. The firm is working at full capacity Assets Liablies and Stockholders' Equity $ 11 Accounts payable $ 16 Cash Accounts recevable Inventory 5 Accrued wages 28 Accrued taxes 4 Current labilies 46 Noles payable 10 Current assets Fxed assets 12 18 46 s 110 Common stock Retained earnings 110 Total liablities and stockholders' equity Total assets Owen's has an aftertax proft margin of 10 percent and a dividend payout ratio of 80 percent. If sales grow by 25 percent next year, determine how many new dollars, not millions, (e.g. $1,234 567)) dollars of new funds are needed to finance the growth. (Do not round intermediate calculations. Enter your answer in
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