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General Services Corp. reported sales of $890,000 at the end of last year, but this year, sales are expected to grow by 7%. General Services
General Services Corp. reported sales of $890,000 at the end of last year, but this year, sales are expected to grow by 7%. General Services Corp. expects to maintain its current profit margin of 20% and dividend payout ratio of 20%. The following information was taken from General Services Corp.s balance sheet:
Total assets: $425,000 Accounts payable: $80,000 Notes payable: $30,000 Accrued liabilities: $80,000
Based on the additional funds needed (AFN) equation, the firms AFN for the past year is .
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