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ABC Company is planning its operations for next year, and as its CFO, you will need to forecast the company's additional funds needed (AFN). Your
ABC Company is planning its operations for next year, and as its CFO, you will need to forecast the company's additional funds needed (AFN). Your firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation and the Percentage of Sales method, what is the AFN for the coming year? Dollars are in millions. Last year's sales = $366 Sales growth rate = 30% Last year's total assets = $553 Last year's profit margin = 6.00% Last year's accounts payable = $43 Last year's notes payable = $50 Last year's accruals = $30 Target payout ratio = 61% Ignore dollar sign and millions, and round your final answer to two decimal places of dollar, e.g., XXX.XX. (Hint: Use the AFN General Formula in Financial Forecasting and refer to Reading Article of RPS Corp.)
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