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Suppose that Gyp Sum Industries curfently has the balance sheet shown below, and that sales for the year just ended were $10.2 milion. The firm

image text in transcribedimage text in transcribed Suppose that Gyp Sum Industries curfently has the balance sheet shown below, and that sales for the year just ended were $10.2 milion. The firm also has a profit margin of 30 percent, a retention ratio of 20 percent, and expects sales of $8.2 milion next yoar. Total assets \$ 6,324,000 Total liabilities and equily \$ 6,324,000 If all assets and current liabilities are expected to shrink with sales, what amount of additional funds wil Gyp Sum need from external sources to fund the expected growth? (Enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign.) Complete the following analysis. Do not hard code values in your calculations, and de not round intermediate calculations. Necessary increase in assets Spontaneous increase in liabilities Projected increase in retained earnings Additional Funds Needed

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