GEL Company reports the following summary financial data in its 2019 report. Currently, the financial manager is preparing the forecasted financial statements for 2021. The purpose of the forecasted financial statements is to predict whether the company requires additional funds in 2021 in order to meet its target growth. The company is currently operating at 80% capacity. The following data are used in the forecast. All values are in million.

Last year's sales

$800

Last year's accounts payable

$100

Sales growth rate

20%

Last year's notes payable

$96

Last year's total assets

$1200

Last year's accruals

$240

Last year's profit margin

15%

Target payout ratio

50%

Required?

Calculate the additional funds required in 2021 (4 pts) How much additional finance will be required for 2021, if the company revised the plan and payout ratio is reduced to 30%? (3 pts) Compute the self-supporting growth rate of the company (2 pts)