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The 2020 balance sheet for People's Painters, Inc. is shown below: Assets Liabilities & Equity Current Assets 12,000 Current Liabilities 2,000 Net Fixed Assets 25,000

The 2020 balance sheet for People's Painters, Inc. is shown below:

Assets

Liabilities & Equity

Current Assets

12,000

Current Liabilities

2,000

Net Fixed Assets

25,000

Long-term Debt

17,000

Common Stock

15,000

Retained Earnings

3,000

Total Assets

37,000

Total Liabilities & Equity

37,000

Sales in 2020 were $36,000 and the net profit margin was 4%. Assuming that sales in 2021 will grow to $45,000, the net profit margin will remain constant, the firm will not need any additional fixed assets, and the dividend payout ratio is 30%, what is the AFN for 2021?

Group of answer choices

750

2,000

200

1,240

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