ABC Ltd would like to estimate the investment in net working capital that is required for the following year (Year 1). His chocolate factory did 300 million in sales this year and a 20% growth is expected next year. Customers typically availed an average credit period of 45 days before paying their dues. Inventory levels were maintained at 45 days of cost of goods sold. The firm enjoyed a liberal credit period from its suppliers with accounts payable typically being 40% of cost of goods sold. Gross margins at the firm were 50%. The working capital policies and gross margins are expected to stay constant from this year to next. Assume that the working capital components for the firm are limited to accounts receivable, accounts payable and inventory. Use a 360 day-count convention for your calculations. If the working capital investment for any of the component is negative (i.e. cash is generated by that item), enter a negative number in the field. (Do not round intermediate calculations. Round your answer to 2 decimal places. Do not include any commas in your answer - i.e. if your answer is $52,135.34 enter 52135.34 in the space provided.)

What are the closing values for the following items in next year's (Year 1) balance sheet? Accounts receivable: million Accounts payable: million Inventory: million

What is the incremental investment required in each of the following working capital items in the next year (Year 1)? Accounts receivable: million Accounts payable: million Inventory: million

What is the total incremental investment in net working capital that is required in the next year (Year 1)? million