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Suppose in 2023, Smithfields Net Sales is expected to grow at 12%, using the Additional Fund Needed (AFN) formula calculate Smithfield AFN to support its

Suppose in 2023, Smithfields Net Sales is expected to grow at 12%, using the Additional Fund Needed (AFN) formula calculate Smithfield AFN to support its 12% growth using its status quo in 2022. And then, given your projected AFN during 2023, suppose that Smithfield decides to fund all its projected AFN by issuing new Long-term Debt, calculate the projected Total Liabilities-to-Total Asset ratio for Smithfield in 2023.

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