Golf Planet anticipates a 15% growth in sales next year and would like to know if external financing will be required. The company has provided you with the following financial information: Balance Sheet Current assets 320,000 Current liabilities 90,000 Property, plant and equipment 490,000 Long term liabilities 220,000 Total assets 810,000 Equity 500,000 Total liabilities and equity 810,000 Sales last year were $1,500,000, with a profit margin of 10%. The company has a policy of paying out 30% of profits each year as dividends Production is currently at capacity and management believes that it will cost $40,000 to increase the capacity enough to accommodate the increase in sales. Estimate the new funding that will be required using the percentage of sales method, 1 B ili I FE III B P& BE