Q Search this course eBook Additional Funds Needed The Booth Company's sales are forecasted to double from $1,000 in 2019 to $2,000 in 2020. Here is the December 31, 2019, balance sheet: 150 50 500 400 Cash $ 100 Accounts payable $ 50 Accounts receivable 200 Notes payable Inventories 200 Accruals Net fixed assets Long-term debt Common stock 100 Retained earnings 250 Total assets $1,000 Total liabilities and equity $1,000 Booth's fixed assets were used to only 50% of capacity during 2019, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth's after-tax profit margin is forecasted to be 3% and its payout ratio to be 45%. What is Booth's additional funds needed (AFN) for the coming year? Round your answer to the nearest dollar. $ Check My Work 0-Icon ko O RI a 1010 PM 6/14/2020 29