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On 12/31/2021 balance sheet , a firm has $ 400 million of assets . Sales on 12/31/2021 income statement 2,000 Million . Net Income on
On 12/31/2021 balance sheet , a firm has $ 400 million of assets . Sales on 12/31/2021 income statement 2,000 Million . Net Income on 12/31/2021 income statement $ 100 Million . Payout ratio 70 % . Accounts payable and Accruals on 12/31/2021 balance sheet $ 80 Million . Target growth rate in sales = 10 % . What is the AFN in 2022 . A. 500 million B. -1 million C. -300 million D. 100 million
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