If we assume the growth rate for 20x8 would be 20%, the sales, expenses, payable will grow with the same rate as the sales, and tax rate and dividend payout ratio are the same, how much would be the additional additional funding needed.

Income statement
			20x6	20x7
	Sales		$1,200,000	$1,500,000
	Cost of goods sold		$750,000	$937,500
	Gross margin		$450,000	$562,500
	Operating expense
		Advertising expense	$50,000	$62,500
		Rent expense	$72,000	$90,000
		Sales commission	$48,000	$60,000
		Utilities	$15,000	$18,750
	EBIT		$265,000	$331,250
	Interest expense		$106,000	$113,000
	Taxable income		$159,000	$218,250
	Tax (35%)		$55,650	$76,388
	Net Income		$103,350	$141,863
	Dividend (40% payout)		$41,340	$56,745
	Change in return earnings		$62,010	$85,118

Balance sheet
			20x6	20x7
	Assets
		Cash	$300,000	$375,000
		Receivables	$200,000	$250,000
		Inventory	$700,000	$875,000
		Property, plant and equipment	$1,800,000	$2,250,000
	Total assets		$3,000,000	$3,750,000
	Liabilities
		Payables	$300,000	$375,000
		Short-term debt (10 % interest)	$500,000	$989,882
		Long-term debt (7% interest)	$800,000	$900,000
	Shareholders' equity
		Common stock	$1,100,000	$1,100,000
		Retained earnings	$300,000	$385,118
	Total liabilities and equity		$3,000,000	$3,750,000

w much would be the additional funding needed? (hint: Pls study the results on 20x7).