Suppose that Gyp Sum Industries currently has the balance sheet shown below, and that sales for the year just ended were $$10\mathrm{.}2$million. The firm also has a profit margin of $30$ percent and a retention ratio of $20$ percent, and expects sales of $$8\mathrm{.}2$ million next year.

Assets, Liabilities, and Equity

Current Assets $2,124,000$ Current liabilities $1,707,480$

Fixed Assets $4,200,000$ Longterm debt $1,600,000$

Equity $3,016,520$

Total Assets $6,324,000$ Total Liablities and Equity $6,324,000$

$If$ all assets and liabilities expected $to$ shrink with sales, what amount $of$ addtional funds Will Gym Sum need from external sources $to$ fund expected growth?

Necessary increase $in$ Assets ${?}_{?}{?}_{{?}_{?}}?{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{?}$

Spontaneous increase $in$ liabilities ${?}_{?}{?}_{{?}_{?}}{?}_{{?}_{?}}?{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{?}$

Projected increase $in$ retaining earnings ${?}_{?}{?}_{{?}_{?}}{?}_{?}{?}_{{?}_{?}}{?}_{{?}_{?}}$

Add Funds needed ${?}_{?}{?}_{{?}_{?}}{?}_{?}{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}$