Cryo-vac expects sales to increase 20% next year from the current level of $5,000,000. The firm has current assets of $1,000,000 and fixed assets of $1,500,000. Cryo-vac has current liabilities of $750,000 of which $300,000 are in notes payable. What additional financing will Cryo-vac need to support the expected sales increase if its profit margin is 8% and the firm expects to pay out $200,000 in dividends? An increase in net fixed assets of $300,000 will be required. Hint: Assuming the (current assets) and (current liabilities- notes payable) will grow at the same rate as the sales. change in current asset ?? change in fixed asset - ?? change in (current liability - notes payable) - ?? net income ?? addition to retained earnings net income - dividend - ?? additional financing change in current asset + change in fixed asset - change in (current liabilities notes payable) addition to retained earnings