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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 llabilities will vary directly with sales. The firm is working at full capacity Assets Cash Accounts receivable Inventory Current anset Fixed aneta Balance Sheet (ans millione) Liabilities and Stockholders' Equity $ 7 Accounts payable 24 Noerued wages 27 Accrued taxes $ 58 Current liabilities 44 Notes payable Common stock Retained onrning $102 Total liabilities and stockholders' equity $ 20 6 14 $40 15 19 28 $ 102 Total sota Owen's Electronics has an aftertax profit margin of 10 percent and a dividend payout ratio of 50 percent y sales grow by 30 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 millons, (e.g. $1,234,567).) New funds

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