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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $ 1 0 0 million, and the balance sheet at
Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $ million, and the balance sheet at yearend 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.
tableBalance Sheet in $ millionsCash Assets,$ Accounts piabilities,Accounts receivable, Accrued wages,Inventory Accrued taxes,Current assets,$ Current liabilities,Fixed assets,Notes payableCommon stock,Retained earnings,Total assets,$ Total liabilities and,
Owen's Electronics has an aftertax profit margin of percent and a dividend payout ratio of percent.
If sales grow by percent next year, determine how many dollars of new funds are needed to finance the growth.
Note: Do not round intermediate calculations. Enter your answer in dollars, not millions, eg $
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