Fuzzy Button Clothing Company has the following end-of-year balance sheet: Fuzzy Button Clothing Company Balance Sheet For Year Ended on December 31 Assets Liabilities Current Assets: Current Liabilities: Cash and equivalents $150,000 400,000 $250,000 150,000 Accounts receivable Accounts payable Accrued liabilities Notes payable Total Current Liabilities Inventories 350,000 100,000 Total Current Assets $900,000 $500,000 Net Fixed Assets: Long-Term Bonds 1,000,000 $1,500,000 Net plant and equipment $2,100,000 Total Debt (cost minus depreciation) Common Equity Common stock 800,000 Retained earnings Total Common Equity Total Liabilities and Equity 700,000 $1,500,000 $3,000,000 Total Assets $3,000,000 The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Fuzzy Button Clothing Company generated $300,000 net income on sales of $14,000,000. The firm expects sales to increase by 18% this coming year and also expects to maintain its long-run dividend payout ratio of 30%. Suppose Fuzzy Button's assets are fully utilized. Using the additional funds needed (AFN) equation, the increase in total assets that is necessary to support Fuzzy Button Clothing Company's expected sales is $ (Hint: Do not round intermediate calculations.) When a firm grows, some liabilities grow spontaneously along with sales. Spontaneous liabilities are a source of capital that the firm will generate internally, so they reduce the need for external capital. How much of the total increase in assets will be supplied by spontaneous liabilities for Fuzzy Button this year? (Hint: Do not round intermediate calculations.) $72,000 O $82,800 O $75,600 O $61,200 Now, Fuzzy Button expects to generate a positive net income next year, and to distribute some of its earnings as dividends. It will retain the remainder of the firm's forecasted net income (as retained earnings) for future asset investment. As the company generates more internal funding, it will have less to raise externally via the capital markets. Assuming that, next year, Fuzzy Button's net profit margin and dividend payout ratio will be the same as this year's values, then Fuzzy Button is expected to generate of additional retained earnings financing. (Hint: Do not round intermediate calculations.) According to the financial forecasts for Fuzzy Button Clothing Company and the AFN equation, next year, the firm will need to raise $ in additional external financing. (Hint: Do not round intermediate calculations.)