Philips Company's sales are expected to increase from Rs: $5$ million in $2016$ to Rs: $6$ million in $2017$ or by $20\%.$ Its assets totaled Rs: $3$ million at the end of $2016.$ Philips is working at its full capacity, so its assets must grow at the same rate as projected sales. At the end of $2016,$ current liabilities were Rs: $1$ million, comprising Rs: $150,000$ of accounts payable, Rs:$600,000$ of notes payable, and Rs$.250,000$ of accruals. The after$-$tax profit margin is forecasted to be $8\%$ and the forecasted payout ratio is $55\%.$ By applying AFN formula, forecast Philip's additional funds needed for the coming year.