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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 liabilities will vary directly with sales. The firm is working at full capacity Balance Sheet in s millions) Assets Liabilities and Stockholders' Equity Cash $9 Accounts payable Accounts receivable 26 Accrued wages Inventory 24 Accrued taxes 13 Current assets 5.59 Current liabilities $38 Fixed assets 45 Notes payable 12 Common stock 17 Retained earnings 37 Total assets $104 Total Liabilities and stockholders' equity $ 104 $ 18 7 Owen's Electronics has an aftertax profit margin of 6 percent and a dividend payout ratio of 40 percent If soles grow by 25 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 milijons, (eg. $1,234,567).) Now funds

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