Broussard Skateboard's sales are expected to increase by 15% from $8 million in 2018 to $9.2 million in 2019. Its assets totaled :$5 million at the end 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, Easy Problems 9-1 AFN Equation of 2018. 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 60, and the forecasted payout ratio is 40%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. 9-2 AFN Equation Refer to Problem 9-1. What would be the additional funds needed if the company's year-end 2018 assets had been $7 million? Assume that all other numbers, including sales, are the same as in Problem 9-1 and that the com- pany is operating at full capacity. Why is this AFN different from the one you found in Problem 9-1? Is the company's "capital intensity ratio the same or different? 9-3 AFN Equation Refer to Problem 9-1. Return to the assumption that the company had $5 million in assets at the end of 2018, but now assume that the company pays no dividends. Under these assumptions, what would be the additional funds needed for the coming year? Why is this AFN different from the one you found in Problem 9-1