The Booth Company’s sales are forecasted to double from $1,000 in 2021 to $2,000 in 2022. Here is the December 31, 2021, balance sheet: 

Booth’s fixed assets were used to only 50% of capacity during 2021, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth’s after-tax profit margin is forecasted to be 5% and its payout ratio to be 60%. What is Booth’s additional funds needed (AFN) for the coming year?  

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Cash Accounts receivable Inventories Net fixed assets Total assets $ 100 200 200 500 $1,000 Accounts payable Notes payable Accruals Long-term debt Common stock Retained earnings Total liabilities and equity 50 150 50 400 100 250 $1,000 $ LA