3 Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the year just ended were $10.9 million. The firm also has a profit margin of 25 percent, a retention ratio of 30 percent, and expects sales of $8.9 million next year. Liabilities and Equity Assets Current assets Fixed assets $2,621,000 4,900,000 Current liabilities Long-term debt Equity $2,557,140 1,950,000 3,013,860 $7,521,000 Total assets $7,521,000 Total Liabilities and equity If all assets and current liabilities are expected to shrink with sales, what amount of additional funds will Gyp Sum need from external sources to fund the expected growth? (Enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign.) Answer is complete but not entirely correct. Additional funds needed $ 210,857 Return to question wok s Help Sow Tire, Inc. has sales of $1,446,000 and cost of goods sold of $1,246,000. The firm had an average inventory of $96,600 and an ending inventory of $80,000. What is the length of the days' sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places.) Days' sales in inventory days Save & Exit Submit Check my work