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Broussard Skateboard's sales are expected to increase by 20 from ( $ 7.4 ) million in 2019 to ( $ 8.88 ) million in 2020
Broussard Skateboard's sales are expected to increase by \20 from \\( \\$ 7.4 \\) million in 2019 to \\( \\$ 8.88 \\) 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 \\( \\$ 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 \3, and the forecasted payout ratio is \60. 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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