Excel Online Structured Activity: Sales increase Paladin Furnishings generated $2 million in sales during 2016, and its year-end total assets were $1.4 million. Also, at year-end 2016, current liabilities were $500,000, consisting of $200,000 of notes payable, S200 000 o accounts payable, and $100,000 o accrued abilit es. Looking ahead to 2017, the company estimates that its assets must increase by s or every 31 ? ncreasen sales. in profit margin is 3%, and its retention ratio is 60%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below Open spreadsheet How large of a sales increase can the company achieve without having to raise funds externally? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Do not round intermediate calculations. Round your answer to the nearest cent