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17.9 SALES INCREASE Paladin Furnishings generated S4 million in sales during 2015, and its year-end total assets were $3.2 million. Also, at vear end 2018,

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17.9 SALES INCREASE Paladin Furnishings generated S4 million in sales during 2015, and its year-end total assets were $3.2 million. Also, at vear end 2018, current liabilities were $500,000, consisting of $200,000 of notes payable, 5200,000 of accounts payable, and $100,000 of accrued liabilities. Looking ahead to 2019. the company estimates that its assets must increase by $0.80 for every $1.00 increase in sales Paladin's profit margin is 3%, and its retention ratio is 50% How large of a sales increase can the company achieve without having to raise funds externally

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