Owens 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.

Balance Sheet (in $ millions)
Assets			Liabilities and Stockholders' Equity
Cash	$	8	Accounts payable	$	20
Accounts receivable		23	Accrued wages		4
Inventory		25	Accrued taxes		10
Current assets	$	56	Current liabilities	$	34
Fixed assets		44	Notes payable		14
			Common stock		18
			Retained earnings		34
Total assets	$	100	Total liabilities and stockholders' equity	$	100

Owens has an aftertax profit margin of 7 percent and a dividend payout ratio of 45 percent.

If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the growth

What is the New Funds?=