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Owen's Electronics has nine operating plants in seven southwestern states. Sales million, and the balance sheet at year-end is similar in percentage of sales to
Owen's Electronics has nine operating plants in seven southwestern states. Sales million, and the balance sheet at year-end is similar in percentage of sales to that of this will continue in the future). All assets (including fixed assets) and current liabilities will vary directy with for last year were $100 previous years (and sales. The firm is working at full capacity Balance Sheet (in $ millions) Assets Liabilities and Stockholders' Equity Cash Accounts receivable Inventory Current assets $ 12 Accounts payable s 25 30 Accrued wages 33 Accrued taxes 12 18 $ 75 Current liabilities 50 Notes payable s 55 20 25 9 Fixed assets Common stock Retained earnings Total liabilities and $125 stockholders' equity $125 Total assets Owen's has an aftertax profit margin of 10 percent and a dividend payout ratio of 40 percent. If sales grow by 25 percent next year, determine how many dollars of new funds are needed to finance the Do not round intermediate calculations. Enter your answer in millions, (e.g., $1,234,567).) Ne fuadst
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