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Broussard Skateboard's sales are expected to increase by 15% from $7.8 million in 2019 to $8.97 million in 2020 . Its assets totaled $5 million
Broussard Skateboard's sales are expected to increase by 15% from $7.8 million in 2019 to $8.97 million in 2020 . Its assets totaled $5 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019 , current liabilities were $4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit marge in forecaster and the forecasted payout ratio is 70%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar. $
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