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