Clayton Industries is planning its operations for next year. Ronnie Clayton, the CEO, wants you to forecast the firm's additional funds needed (AFN). Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions.

Last year's sales = S0 $350 Last yr's accounts payable $40

Sales growth rate = g 30%

Last year's total assets = A0 * $360 Last yr's accruals $30

Last year's prof margin = PM 5% Target payout ratio 60%

2.

If one Swiss franc (CHF) can purchase 0.65 U.S. dollar, how many Swiss francs can one U.S. dollar buy?

Group of answer choices

1.0706 CHF

1.3294 CHF

1.5384 CHF

1.0471 CHF

1.0476 CHF

3.

Fuzzy Button Clothing Company reported sales of $720,000 at the end of last year, but this year, sales are expected to grow by 10%. Fuzzy Button expects to maintain its current profit margin of 23% and dividend payout ratio of 25%. The following information was taken from Fuzzy Buttons balance sheet:

Total assets: $425,000

Accounts payable: $70,000

Notes payable: $40,000

Accrued liabilities: $80,000

Based on the AFN equation, the firms AFN for the current year is ______?