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Stassart Industries is planning its operations for next year. Ronnie Stassart, the CEO, wants you to forecast the firm's additional funds needed (AFN). Data for

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Stassart Industries is planning its operations for next year. Ronnie Stassart, the CEO, wants you to forecast the firm's additional funds needed (AFN). Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions. Last year's sales = So Sales growth rate=g Last year's total assets = - Ao Last year's prof margin =PM $350 Last ye's accounts payable 30% Last yr's notes payable $460 Last yi's accruals 5% Target payout ratio $40 $50 $30 = 60% 14

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