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3. Splash Bottling's December 31st balance sheet is given below (last year, in millions of dollars): S 5 Accounts payable S15 15 40 Accrued wages
3. Splash Bottling's December 31st balance sheet is given below (last year, in millions of dollars): S 5 Accounts payable S15 15 40 Accrued wages and taxes 20 30 70 Cash Accounts receivable 20 Notes payable Net fixed assets 85 Long-term debt Total assets $150 and equity Inventory Common equity Total liabilities Sales during the past year were $200 million, and they are expected to rise by 30 percent to $260 million during next year. Also, during last year net fixed assets were being utilized to only 90 percent of capacity, so Splash could have supported $200 million of sales with net fixed assets that were only 90 percent of last year's actual fixed assets. Assume that Splash's profit margin will remain constant at 5 percent and that the company will continue to pay out 40 percent of its earnings as dividends. What amount of nonspontaneous, additional funds (AFN) will be needed during this year
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