Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the year just ended were $$9\mathrm{.}4$ million. The firm also has a profit margin of $20$ percent and a retention ratio of $25$ percent, and expects sales of $$7\mathrm{.}4$ million next year.

$\backslash$table$[[$Assets$,$Liabilities and Equity,$],[$Current assets,$$476,000,$Current liabilities,$$964,440$