Owen's Electronics has nine operating plants in seven states in the southwestern United States. Last year's sales totaled $100 million, and the balance sheet at the end of the year shows a similar percentage of sales to previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary in direct proportion to sales. The company works at full capacity.

Owen's has a net profit margin of 7%, operating expenses of 14% and a dividend payout ratio of 40%. Assuming that sales grow 10% next year, determine how many dollars of new funds are needed to finance the growth.

With the information provided, build:

a) The Income Statement (in millions of dollars):

b) The Projected Income Statement (in millions of dollars):

c) The projected balance sheet (in millions of dollars):

REQUIRED FUNDING: