The following is the balance sheet for 20X5 for Marbell Inc. Marbell Inc. Balance Sheet as at December 31, 20X5

Assets		Liabilities
Cash	$15,500	Accounts Payable	$ 90,000
Accts. Rec	90,000	Notes Payable	30,000
Inventory	60,000	Accrued Expenses	7,500
Current Assets	165,500	Current Liabilities	127,500
Fixed assets (non-spontaneous)	60,000	Common stock	75,500
		Retained earnings	22,500
Total Assets	$225,500	Total Liabilities + S.H Equity	$225,500

Sales for 20X5 were $500,000. Sales for 20X6 have been projected to increase by 10%. Assume that Marbell Inc. is operating below capacity, Notes Payable will be used for any new funding requirment, any funding surplus would reduce Notes Payable, and Marbell has an 8% return on sales and 80% of net income is paid out as dividends.

Does the Required New Funding formula suggests Marbell will require new funds to finance this growth or does it suggest that Marbell will have a surplus funding?