10) Doodle & Partners expects its sales to increase by 22%. Sales currently are $8,000,000. Total assets of the firm are $5,000,000 and the current liabilities of Doodle are $1,400,000. The current liabilities consist of $450,000 in accounts payable, $500,000 in notes payable, and $450,000 in accruals. Doodles expected profit margin is 6% and its expected payout ratio is 40%. Using the AFN equation, what are Doodle & Partners additional funds needed for the coming year?

Group of answer choices

$550,640

$624,660

$712,010

$744,300

11) Using the same information as in Problem 10 but assuming that Doodle & Partners does not pay any dividends for the coming year, what would be the new additional funds needed for the coming year based on the AFN equation?

Group of answer choices

$316,400

$288,660

$384,470

$411,400

12) Using the same information as in Problem 10, what is the self-supporting growth rate of Doodle & Partners?

Group of answer choices

7.56%

6.24%

5.29%

4.98%