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The Thrifty Company's sales are forecasted to increase from $15,000 in 2019 to $20,000 in 2020. Here is the December 31, 2009, balance sheet: Cash
The Thrifty Company's sales are forecasted to increase from $15,000 in 2019 to $20,000 in 2020. Here is the December 31, 2009, balance sheet: Cash $ 100 Accounts receivable 200 Inventories 200 Current assets $ 500 Net fixed assets 500 Accounts payable $50 Notes payable $150. Accruals $50 Current liabilities $250 Long-term debt $400 Common stock $100 Retained earnings $250 Total assets $1,000 Total liabilities and equity $1,000 Thrifty Company's fixed assets were used to only 50 percent of capacity during 2009. Thrifty Company's after-tax profit margin is forecasted to be 5 percent, and its payout ratio will be 60 percent. What is Thrifty Company's additional funds needed (AFN) for the coming year? ignore financing feedback effects! (Cub
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