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Owen's Electronics has nine operating plants in seven southwestern states, Sales for last year were $100 milion, 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 milion, 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 Balance Sheet (in millions Assets Llabilities and stockholders Equity Cash $9 Accounts payable $ 22 Accounts receivable 27 Accrued wages Inventory 3e Accrued taxes Current assets $66 Current liabilities $ 46 Fixed assets 47 Notes payable 17 Common stock Retained earnings Total assets 5 113 Total liabilities and stockholders' equity 15 22 28 $ 113 Owens Electronics has an aftertax profit margin of 7 percent and a dividend payout ratio of 20 percent if sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the growth. (Do not round intermediate calculations. Enter your answer in dollars, not millions, (e... $1,234,567).) ces New funds

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