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Microsoft expects sales to grow to $30,634M in Year 3. Use the financial statements below to calculate the additional funds needed (AFN) to support that

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Microsoft expects sales to grow to $30,634M in Year 3. Use the financial statements below to calculate the additional funds needed (AFN) to support that growth. (Assume that cash, goodwill, and long-term debt will not grow in Year 3 and that Microsoft won't pay dividends.) Microsoft Corporation Income Statement and Balance Sheet As of December 31, Year 2 ($ millions) Year 2 Revenue 28,365 Cost of Revenue 5,191 SG&A (incl. R&D) 10,749 Depreciation Expense 820 EBIT 11,605 Interest Expense 92 Earnings Before Taxes 11,513 Income Taxes 3,684 Net Income 7,829 norto ASSETS Current Assets Year 2 Cash and Marketable Securities 38,652 Other Current Assets 10,597 Total Current Assets 49,249 Property, Plant, and Equipment, Net 2,268 Goodwill 16,802 Total Assets 68,319 LIABILITIES & STOCKHOLDERS' EQUITY Total Current Liabilities 13,417 Long-Term Debt 2,722 Common Stock 31,647 Retained Earnings 20,533 Total Stockholders' Equity 52,180 Total Liabilities & Stockholders' Equity 68,319 -$7,565 -$8,232 $8.499 LIABILITIES & STOCKHOLDERS' EQUITY Total Current Liabilities 13,417 Long-Term Debt 2,722 Common Stock 31,647 Retained Earnings 20,533 Total Stockholders' Equity 52,180 Total Liabilities & Stockholders' Equity 68,319 -$7,565 -$8,232 -$8,499 -$8,961

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