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4. Manor Technologies, Inc. has 90 operating plants in seven provinces. Sales for last year were P100 million, and the statement of financial position at

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4. Manor Technologies, Inc. has 90 operating plants in seven provinces. Sales for last year were P100 million, and the statement of financial position at year-end is similar in percentage of sales to that of previous years (and this wll continue in the future). All assets (including property, plant and equipment) and current liabilities will vary directly with sales Statement of Financial Position (in Million Pesos) Assets Liabilities & Equit P15 Cash Accounts receivable Invento P2 Accounts payable 20Accrued wages 23Accrued taxes P25 10 Current assets P45 Current liabilities Plant & Equipment 40 Notes payable Ordinary shares Retained earnings Total Assets P85 Total Liabilities & Equity P85 Manor has an after tax profit margin of 7% and a dividend payout ratio of 40%. If sales grow by 10% next year determine how much of new funds are needed to finance the growth

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