the booth companys sales are forecasted

Problem 9-06 (Additional Funds Needed) Question 1 of 3 Check My Work eBook Additional Funds Needed The Booth Company's sales are forecasted to double from $1,000 in 2018 to $2,000 in 2019. Here is the December 31, 2018, balance sheet: Cash 100 Accounts payable Accounts receivable Notes payable Inventories Accruals Net fixed assets Long-term debt Common stock Retained earnings Total assets $1,000 Total liabilities and equity $1,000 Booth's fixed assets were used to only 50% of capacity during 2018, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth's after-tax profit margin is forecasted to be 7% and its payout ratio to be 30%. What is Booth's additional funds beeded (AFN) for the coming year? Round your answer to the nearest dollar. Hide Feedback Incorrect Check My Work