AFN Equation Broussard Skateboard's sales are expected to increase by 25% from $7.0 million in 2018 to $8.75 million in 2019. Its assets totaled $3 million at the end of 2018. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%. Assume that the company pays no dividends. Under these assumptions, what would be the additional funds needed for the coming year? Do not round intermediate calculations. Round your answer to the nearest dollar. $ Why is this AFN different from the one when the company pays dividends? I. Under this scenario the company would have a lower level of retained earnings which would reduce the amount of additional funds needed. II. Under this scenario the company would have a lower level of retained earnings but this would have no effect on the amount of additional funds needed. III. Under this scenario the company would have a higher level of retained earnings which would reduce the amount of additional funds needed. IV. Under this scenario the company would have a higher level of retained earnings which would increase the amount of additional funds needed. V. Under this scenario the company would have a higher level of retained earnings but this would have no effect on the amount of additional funds needed. -Select- A AFN equation Broussard Skateboard's sales are expected to increase by 15% from $8.4 million in 2018 to $9.66 million in 2019. Its assets totaled $4 million at the end of 2018. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 55%. What would be the additional funds needed? Do not round intermediate calculations. Round your answer to the nearest dollar. Assume that the company's year-end 2018 assets had been $5 million. Is the company's "capital intensity" ratio the same or different? The capital intensity ratio is measured as Ao*/So. Broussard's current capital intensity ratio is -Select- that of the firm with $5 million year-end 2018 assets; therefore, Broussard is -Select- A capital intensive - it would require -Select- A increase in total assets to support the increase in sales