Gagasan Bina Bhd is planning for a major sales increase of 30% in 2022. The current sales are RM30 000 000. Currently, the company is operating at full capacity and it cannot sell off any of its assets. In addition, any required financing will be borrowed as notes payables, short-term and long-term borrowing. Furthermore, its assets, spontaneous liabilities and operating costs will increase at the same percentage as sales. The net profit margin on sales for Gagasan Bina Bhd is 5%. The expected dividend to be distributed to the shareholders are RM900 000. The following information shows the Statement of Financial Position for Gagasan Bina Bhd. Gagasan Bina Bhd Statement of Financial Position (2021) in thousands Fixed Assets 6000 RM Owner's equity Long term 10,500 RM Borrowings 4 000 RM Inventories Trade debtors/Act. 6 000 RM Trade creditors/Act. Pavable 2.000 RM Receivable 7 000 RM Notes Payables Short term 3000 RM Cash 1000 Total Assets 20 000 borrowings 500 Total Equity & Liabilities 20,000 (a) Using the percent of sales method, develop a pro-forma Statement of Financial Position until Pass 1 only for December 31, 2022 and calculate the additional funds needed (AFN) for the company. (b) Calculate the AFN using the AFN formula. Gagasan Bina Bhd is planning for a major sales increase of 30% in 2022. The current sales are RM30 000 000. Currently, the company is operating at full capacity and it cannot sell off any of its assets. In addition, any required financing will be borrowed as notes payables, short-term and long-term borrowing. Furthermore, its assets, spontaneous liabilities and operating costs will increase at the same percentage as sales. The net profit margin on sales for Gagasan Bina Bhd is 5%. The expected dividend to be distributed to the shareholders are RM900 000. The following information shows the Statement of Financial Position for Gagasan Bina Bhd. Gagasan Bina Bhd Statement of Financial Position (2021) in thousands Fixed Assets 6000 RM Owner's equity Long term 10,500 RM Borrowings 4 000 RM Inventories Trade debtors/Act. 6 000 RM Trade creditors/Act. Pavable 2.000 RM Receivable 7 000 RM Notes Payables Short term 3000 RM Cash 1000 Total Assets 20 000 borrowings 500 Total Equity & Liabilities 20,000 (a) Using the percent of sales method, develop a pro-forma Statement of Financial Position until Pass 1 only for December 31, 2022 and calculate the additional funds needed (AFN) for the company. (b) Calculate the AFN using the AFN formula