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Owen’s Electronics has nine operating plants in sevensouthwestern states. Sales for last year were $100 million, and thebalance sheet at year-end is similar in percentage of sales to thatof previous years (and this will continue in the future). Allassets (including fixed assets) and current liabilities will varydirectly with sales. The firm is working at full capacity. BalanceSheet (in $ millions) Assets Liabilities and Stockholders' EquityCash $ 9 Accounts payable $ 22 Accounts receivable 27 Accrued wages9 Inventory 30 Accrued taxes 15 Current assets $ 66 Currentliabilities $ 46 Fixed assets 47 Notes payable 17 Common stock 22Retained earnings 28 Total assets $ 113 Total liabilities andstockholders' equity $ 113 Owen’s has an aftertax profit margin of7 percent and a dividend payout ratio of 20 percent. If sales growby 20 percent next year, determine how many dollars of new fundsare needed to finance the growth. (Do not round intermediatecalculations. Enter your answer in dollars, not millions, (e.g.,$1,234,567).)