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Please show computations with Excel formulas! Paladin Furnishings generated $15 million in sales during 2020, and its year-end total assets were $7 million. Also, at

Please show computations with Excel formulas!

Paladin Furnishings generated $15 million in sales during 2020, and its year-end total assets were $7 million. Also, at year-end 2020, current liabilities were $1.35 million, consisting of $355,000 of notes payable, $720,000 of accounts payable, and $275,000 of accrued liabilities. Looking ahead to 2022, the company estimates that its assets must increase by $0.47 for every $1.00 increase in sales. Paladins profit margin is 6%, and its retention ratio is 45%. How large of a sales increase can the company achieve without having to raise funds externally?

Please show computations with Excel formulas!

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