QUESTION 3 Sales for Ceylan Inc., are expected to increase from $10 million in 2020 to $14 million in 2021. Its asset total is $4 million at the end of 2020. Ceylan is at full capacity, and at the end of 2020, its current liabilities are $2 million, consisting of $250,000 of accounts payable, $1,5 million of notes payable and $250,000 of accrued liabilities. It's profit margin is expected to be 2%, and the forecasted retention ratio is 40%. Use the AFN equation to forecast the additional funds the company will need for the coming year. $446,500 $2,130,000 $9,000,000 $1,288,000