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C. A firm has the following balance sheet: $ $ Cash 20 Accounts payable 20 Accounts Receivable 20 Notes Payable 40 Inventory 20 Long Term

image text in transcribedC. A firm has the following balance sheet: $ $ Cash 20 Accounts payable 20 Accounts Receivable 20 Notes Payable 40 Inventory 20 Long Term debt 80 Net Fixed Assets 180 Common Stock 80 Retained Earnings 20 Total Assets 240 Total liabilities and equity 240 Sales for the year just ended were $400, and fixed assets were used at 80 percent of capacity, but its current assets were at optimal levels. Sales are expected to grow by 5 percent next year, the profit margin is 5 percent, and the dividend payout ratio is 60 percent. How much additional funds will be needed?

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