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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar

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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years (and this will continue in the future) All assets (including fixed assets) and current liabilities will vary directly with sales. The firm is working at full capacity. Owen's Electronics has an aftertax profit margin or 9 percent and a dividend payout ratio of 40 percent. If sales grow by 15 percent next vear, determine how many dollars of new funds are needed to finance the growth. Note: Do not round intermediote colculotions. Enter your onswer in dollors, not mitlions, (e.g., $1,234,567 )

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