Net Plant & Equipment Total Assets Liabilities & Equity Accounts Payable Notes Payable Accruals Current Liabilities Long-Term Debt Common Stock Retained Earnings Total Liabilities & Equity Additional Funds Needed O $650.40 O $458.40 $4,800.00 $12,800.00 O $602.40 2006 $2,500.00 $1,500.00 $1,000.00 $5,000.00 $2,500.00 $3,500.00 $1,800.00 $12,800.00 Now make the following assumptions: 1. Sales are expected to increase by 20 percent in 2007 to a level of $12,000. 2. All assets and spontaneous liabilities can be expressed as a percent of sales. 3. In 2006 the tax rate was 40 percent, the profit margin was 16.80 percent, and the dividend payout rate was 40.0 percent. $506.40 2007 (1st) Using the equation method, and given the information above, calculate the additional funds needed. 2007 (2nd) 3)