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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 simllar

image text in transcribed 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 simllar 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 of 7 percent and a dividend payout ratio of 25 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 colculations. Enter your answer in dollors, not milions, (e.g., \$1,234,567).) (x) Answar is cemplete but not entirely correct

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