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2. Suppose that Big Bear Adventure Tours, Inc., has the balance sheet displayed below and that sales for the year that just ended amounted to $12 million. The company also has a profit margin of 25 percent, and a retention ratio of 30 percent, and it expects sales of $18 million next year. The company pays 6 percent interest on its iong-term debt and has a tax rate of 30 percent. If all assets and current liabilities are expected to grow with sales, how much in additional funds will Big Bear Adventure Tours need from external sources to fund the expected growth? Assets CURRENT ASSETS FIXED ASSETS Llabilities and Equity CURRENT LIABILITIES LONG-TERM DEBT EQUITY $ 600,000 2,800,000 $2,900,000 56.000000 TOTAL IABILITIES AND EQUITY TOTAL ASSETS $6,000,000