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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
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. Select the correct answer. a. $108.0 b. $111.1 c. $98.7 d. $104.9 e. $101.8 Brolussard Skateboard's sales are expected to increase by 25% from $7.0 million in 2018 to $8.75 million in 2019 . Its assets totaled $5 million at the end of 2018 . Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2018 , current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 60%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar
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