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Suppose that Wall-E Corp. currently has the balance sheet shown below, and that sales for the year just ended were $6.3 million. The firm also

Suppose that Wall-E Corp. currently has the balance sheet shown below, and that sales for the year just ended were $6.3 million. The firm also has a profit margin of 30 percent, a retention ratio of 20 percent, and expects sales of $8.3 million next year. Fixed assets are currently fully utilized, and the nature of Wall-Es fixed assets is such that they must be added in $1 million increments. Assets Liabilities and Equity Current assets $ 1,701,000 Current liabilities $ 1,890,000 Fixed assets 4,347,000 Long-term debt 1,850,000 Equity 2,308,000 Total assets $ 6,048,000 Total liabilities and equity $ 6,048,000 If current assets and current liabilities are expected to grow with sales, what amount of additional funds will Wall-E need from external sources to fund the expected growth?

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