3. Excess capacity adjustments Water and Power Co. (W\&P) currently has $610,000 in total assets and sales of $1,820,000. Half of W\&P's total assets come from net fixed assets, and the rest are current assets. The firm expects sales to grow by 22% in the next year. According to the AFN equation, the amount of additional assets required to support this level of sales is $ W\&P was using its fixed assets at only 95% of capacity last year. How much sales could the firm have supported last year with its current level of fixed assets? $1,628,421$1,915,789$2,298,947$2,011,578 When you consider that W\&P's fixed assets were being underused, its target fixed assets to sales ratio should be %. When you consider that W\&P's fixed assets were being underused, how much fixed assets must W\&P raise to support its expected sales for next year? $50,920$58,194$48,495$41,221