Daniel Sawyer, the CEO of the Sawyer Group, is initiating planning for the company's operations next year, and he 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? Dollars are in millions. Last year's sales So $350 Last year's accounts payable Sales growth rate = g 30% Last year's notes payable Last year's total assets = A0* $350 Last year's accruals Last year's profit margin = PM 5% Target payout ratio Select the correct answer. a. $66.9 b. $78.9 c. $82.9 d. $70.9 e. $74.9 $40 $50 $30 60% In your internship with Lewis, Lee, & Taylor Inc. you have been asked to forecast the firm's additional funds needed (AFN) for next year. 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? Last year's sales = So $200,000 Last year's accounts payable $50,000 Sales growth rate = g 40% Last year's notes payable $15,000 Last year's total assets = A0* $170,000 Last year's accruals $20,000 Last year's profit margin = PM 20.0% Target payout ratio 25.0% Select the correct answer. a. - $1,950 b. -$2,000 c. -$2,100 d. - $1,900 e. - $1,850 You have been asked to forecast the additional funds needed (AFN) for Houston, Hargrove, & Worthington (HHW), which is planning its operation for the coming year. The firm is operating at full capacity. Data for use in the forecast are shown below. However, the CEO is concerned about the impact of a change in the payout ratio from the 10% that was used in the past to 30%, which the firm's investment bankers have recommended. Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level? All dollars are in millions. Last year's sales = So $300.0 Last year's accounts payable Sales growth rate = g 40% Last year's notes payable Last year's total assets = A0* $500 Last year's accruals Last year's profit margin = PM 20.0% Initial payout ratio Select the correct answer. a. $20.2 b. $21.9 c. $13.4 d. $16.8 e. $18.5 $50.0 $15.0 $20.0 10.0%