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Use this table to answer this question (All are stated in million dollars) Quantum Inc. Balance Sheet 2020 2019 Quantum Inc. Balance Sheet 2020 2019

Use this table to answer this question (All are stated in million dollars)
Quantum Inc. Balance Sheet 2020 2019 Quantum Inc. Balance Sheet 2020 2019
Cash and cash equivalents 2,768 2,879 Accounts payable 8,022 7,251
Accounts receivable 6,275 5,335 Accruals 9,290 8,559
Total inventories 7,379 6,384 Notes Payables 9,981 8,472
Prepaid expenses 5,548 4,184 Long-term debt 22,033 21,360
TOTAL CURRENT ASSETS 21,970 18,782 Other borrowings 21,027 21,091
Net Property Plants (Net PPE) 21,293 19,244 Common stock+ paid in Cap 58,134 58,134
Intangible assets 95,091 90,146 Retained earnings 9,867 3,305
TOTAL ASSETS 138,354 128,172 TOTAL LIAB & EQUITY 138,354 128,172
Quantum Inc. Income Statement 2020 2019
NET SALES 82,559 78,938
Cost of products sold 40,768 37,919
Selling, general and administrative expense 23,135 21,890
Depreciation expense 2,838 3,108
OPERATING INCOME 15,818 16,021
Interest expense 629 974
EARNINGS BEFORE INCOME TAXES 15,189 15,047
Income taxes 3,392 3,360
NET INCOME 11,797 11,687
Total Dividends Payments 5,235 5,186
Suppose the expected growth of net sales for 2021 is 8%, calculate the Quantum Inc. Additional Fund Needed (AFN) for 2021 based on the 2020 status quo. Also, please carefully explain the meaning of the projected 2021 AFN that you calculated.

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