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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 abilities will vary directly with sales. The firm is working at full capacity $ 23 10 Assets Cash Mocots receivable Inventory Current asset Fixed asset Balance Sheet in 5 millions) Liabilities and Stockholders' Equity $ 10 secounts payable 28 Meerud wages 31 Accrued taxes $69 Current liabilities 48 Wotes payable Common stock Retained earnings 3117 Total Liabilities and stockholders' equity S49 1 23 27 5 117 Total assets Owen's Electronics has an aftertax profit margin of 8 percent and a dividend payout ratio of 30 percent. 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. (eg. $1,234,567).) New funds

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