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Clayton Industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm's additional funds needed (AFN). The

Clayton Industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm's additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Show excel formulas, dollars are in millions. (See attached image for givens)image text in transcribed

Last year's sales-S Sales growth rate g Last year's total assets Ao* Last year's profit margin -PM S350 30% $500 5% Last year's accounts payable Last year's notes payable Last year's accruals Target payout ratio $40 $50 $30 60%

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