udy Tools 4. Problem 9-6 Additional Funds Needed S. The Booth Company's sales are forecasted to double from $1,000 in 2015 to $2,000 in 2016. Here is the December 31, 2015, balance sheet: 6 ns 7. kess Tips 8 9. ecess Tips FOR YOU Cash $ 100 Accounts payable $50 Accounts receivable 200 Notes payable 150 Inventories 200 Accruals 50 Net fixed assets 500 Long-term debt 400 Common stock 100 Retained earnings 250 Total assets 51000 Total liabilities and equity $1000 Booth's fixed assets were used to only 50% of capacity during 2015, 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. Booths after-tax profit margin is forecasted to be 49 and its payout ratio to be 65%. What is Booth's additional funds needed (AFN) for the coming year? Round vour answer to the nearest dollar Hands of Campus 5 Checkory Tank ve Feedback OT 2:41 PM O Type here to search