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Martel Sporting Goods' sales are expected to increase by 15% from $17 miltion in 2021 to $19.55 million in 2022 . At the end of
Martel Sporting Goods' sales are expected to increase by 15% from $17 miltion in 2021 to $19.55 million in 2022 . At the end of 2021 , current liabilities were $3.04 mation, consisting of $1.2 million of accounts payable, $1 million of notes payable, and $840,000 of accruals. The after-tax profit. margin is forecasted to be 5%, and the forecasted payout ratio is 30%. What would be the additional funds needed if the company's year-end 2021 assets had been $9.35 million? Assume that all other numbers, including sales, are the same as in Problem 5-1 and that the company is operating ot full capacity
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