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Carisbad Corporation's sales are expected to increase from $5 million in 2021 to $6 million in 2022 , or by 20%. Its assets totaled $3

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Carisbad Corporation's sales are expected to increase from $5 million in 2021 to $6 million in 2022 , or by 20%. Its assets totaled $3 million at the end of 2021 . Carlsbad is at full capscity, so its assets must grow in proportion to projected sales. At the end of 2021 , current labilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payoble, and $250,000 of accrued ilabilitses. Its profit margin is forecasted to be 5%, and the forecasted retention ratio is 45%. Use the AFN equation to forecast the additional funds Carisbad will need for the coming yeac. Write out your answer completely, For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar

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