1. The Additional Funds Needed (AFN) equation Cold Duck Manufacturing Inc. has the following end-of-year balance sheet: Cold Duck Manufacturing Inc. Balance Sheet For the Year Ended on December 31 Assets Liabilities Current Assets Current Liabilities: Cath and equivalents $150,000 Accounts payable $250,000 Accounts receivable 400,000 Accrued liabilities 150,000 Inventories 350,000 Notes payable 100,000 Total Current Assets $900,000 Total Current Liabilities $500,000 Net Fixed Assets Long-Term Bonds 1.000.000 Net plant and equipment 52,100,000 Total Debt $1,500,000 (cost minus depreciation) Common Equity Common stock 800,000 Retained earnings 200,000 Total Common Equity 51.500.000 Total Asset $3,000,000 Total Lines and Equity 53,000,000 The firm is currently in the process of forecasting sales, asset requirements, and reared funding for the coming year in the year that just ended, Cold Duck Manufacturing Inc generated $450,000 net income on sales of $13,000,000. The firm expects sales to increase by 18% this coming year and also expects to maintain a long-run dividend payout ratio of 304 pour cord Manufacturing The's are lyd. Use the additional funds needed (AFN) equation to determine the increase in total that is necessary to support Cold Duck Manufacturing Inc expected sales. (Note: Do not found intermediate calculations) 1432,000 $540,000 3554,000 5406,000 When ym row, some abilities grow spontaneously along with sale Spontaneous abilities are source of capital that the firm wit generate Internely, so they reduce the need for external portal. How much of the total increase in met wit be supole wypontanetes ibilities for Duck Manufacturing in this year? (Note: Do not round intermediate calculation) 579,200 64,000 172,000 In addition, Colduck Manufacturing Inc. is spected to generate net income this year. The firm will pay out some of its earnings as dividends but will retain the rest for ture set investment Again, the more to generates internally from its operations, the less it will have to raise externally from the capital markets. Ausunie that the firm grote marain and dividend payout ratio are expected to remain constant from operations that will be added to Given the preceding information, Cold Duck Manufacturing Int is coxpected to generates retained ning Note: Do not round Intermediate calculations According to the Aquations and projections to Cold Duck Manufacturing Inc, the Ben's AN IS $ intermediate calculations (Note: Do not round