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ChangWu Inc. is planning its operations for next year, and the CEO wants you to forecast the firm's additional funds needed (AFN) using data shown

ChangWu Inc. is planning its operations for next year, and the CEO wants you to forecast the firm's additional funds needed (AFN) using data shown below. What is the additional funds needed (AFN) for the coming year? Last yr's sales = S0 $200,000 Last yr's accounts payable $50,000 Sales growth rate = g 40% Last yr's notes payable $15,000 Last yr's total assets = A*0 $162,500 Last year's accruals $20,000 Last yr's profit margin = M 20.0% Target payout ratio 25.0%

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