Big Test Inc. had sales last year of $100mm. Sales are expected to grow 20% next year. To support the new sales level, the production manager has indicated that fixed assets will need to increase by $30mm. Last year's balance sheet showed the following: o Current assets = $20mm o Fixed assets = $90mm o Accounts Payable = $10mm o Notes Payable = $20mm o Long-term Liabilities - $30mm o Common Stock - $20mm. o Retained Earnings = $30mm Given this data, what is the forcast level of Accounts Payable for next year? (Note: use the standard assumptions from lecture) $10mm $12mm $11mm $24mm

Cunent wurds =520mm Hoed asarts = Somm Mecounth Farbile - 5 iam Common Sexh + 5 Jomen Relained Laming =5$0mm Stomm $12 inm 31 mim 524mm year's balance theet throved the following? Current assets =$20mm Focd assets =$90mm Nccouats Payable 510mm Nodes Paryble =$20 anm 6. Long-tem Liabalities =$30mm in Common Stock =520 mam 8. Recained Farnings =530mm $10mm 512mm $11mm $24mm