Intro

Wish Inc. sells low-cost items online. Its most recent income statement and balance sheet are given below:

Income statement ($ million)			Balance sheet ($ million)
Sales	21		Current assets	14.4		Debt	21.6
Costs	16.8		Fixed assets	57.6		Equity	50.4
Net income	4.2		Total assets	72		Total	72

Sales, assets and costs are expected to grow by 28% next year, while debt will stay constant. The company pays out 20% of net income as dividends.

Attempt 1/8 for 10 pts.

Part 1

What is the required new funds (RNF) for next year (in $ million)?

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