3.2. The sales manager of Daily Dairy (Pty) Ltd informed the management committee that the sales team projects annual sales for 2022 to increase by 11% on 2021 sales. The management of Daily Dairy (Pty) Ltd wants to determine whether it will need any additional working capital in order to support the anticipated increase in its projected sales. The annual sales for 2021 are R16 800 000. The accountant provided the following extracts from current 2021 financial statements for this purpose: Assets R Non-current assets 6 800 000 Inventory 3 200 000 Trade receivables 1 580 000 Cash and cash equivalents 1 000 500 12 580 500 Current liabilities Trade and other payables 1 700 000 14 280 500 Equity and liabilities Share capital Long-term loans 10 850 000 3 430 500 14 280 500 Additional information: The after-tax profit on sales is 10% and the company retains 30% of this profit in the company. The increase in sales is assumed to be an increase in credit sales only. . Required: Show all formulas and calculations and round off final answers to the nearest whole number. Apply the information provided by the sales manager and the accountant to calculate the additional working capital required in order to support the anticipated increase in sales. (10) 3.2. The sales manager of Daily Dairy (Pty) Ltd informed the management committee that the sales team projects annual sales for 2022 to increase by 11% on 2021 sales. The management of Daily Dairy (Pty) Ltd wants to determine whether it will need any additional working capital in order to support the anticipated increase in its projected sales. The annual sales for 2021 are R16 800 000. The accountant provided the following extracts from current 2021 financial statements for this purpose: Assets R Non-current assets 6 800 000 Inventory 3 200 000 Trade receivables 1 580 000 Cash and cash equivalents 1 000 500 12 580 500 Current liabilities Trade and other payables 1 700 000 14 280 500 Equity and liabilities Share capital Long-term loans 10 850 000 3 430 500 14 280 500 Additional information: The after-tax profit on sales is 10% and the company retains 30% of this profit in the company. The increase in sales is assumed to be an increase in credit sales only. . Required: Show all formulas and calculations and round off final answers to the nearest whole number. Apply the information provided by the sales manager and the accountant to calculate the additional working capital required in order to support the anticipated increase in sales