Futuristic Development $($FD$)$ generated $$3$ million in sales last year with assets equal to $$5$ million. The firm operated at full capacity last year. According to FD$\text{'}$s balance sheet, the only current liabilities are accounts payable, which equals $$320,000.$ The only other liability is long$-$term debt, which equals $$770,000.$ The common equity section is comprised of $500,000$ shares of common stock with a book value equal to $$3$ million and $$910,000$ of retained earnings. Next year, FD expects its sales will increase by $22$ percent. The company's net profit margin is expected to remain at its current level, which is $16$ percent of sales. FD plans to pay dividends equal to $$0\mathrm{.}60$ per share. It also plans to issue $50,000$ shares of new common stock, which will raise $$360,000.$ Estimate the additional funds needed $($AFN$)$ to achieve the forecasted sales next year. Round your answer to the nearest dollar. Futuristic Development $($FD$)$ generated $$3$ million in sales last year with assets equal to $$5$ million. The firm operated at full capacity last year. According to

FD$\text{'}$s balance sheet, the only current liabilities are accounts payable, which equals $$320,000.$ The only other liability is long$-$term debt, which equals $$770,000.$

The common equity section is comprised of $500,000$ shares of common stock with a book value equal to $$3$ million and $$910,000$ of retained earnings. Next

year, FD expects its sales will increase by $22$ percent. The company's net profit margin is expected to remain at its current level, which is $16$ percent of sales.

FD plans to pay dividends equal to $$0\mathrm{.}60$ per share. It also plans to issue $50,000$ shares of new common stock, which will raise $$360,000.$ Estimate the

additional funds needed $($AFN$)$ to achieve the forecasted sales next year. Round your answer to the nearest dollar.

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