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A firm has the following balance sheet: Cash...




A firm has the following balance sheet: 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 & Equity $240 Sales for the year just ended were $500, and fixed assets were used at 80 percent of capacity. Current assets and accounts payable vary directly with sales. Sales are expected to grow by 10 percent next year, the expected net profit margin is 5 percent, and the dividend payout ratio is 60 percent. How much additional funds (AFN) will be needed next year, if any?


Paper#11804 | Written in 18-Jul-2015

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