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Using the AFN formula approach, calculate the total assets of this firm given the following information: Sales this year - $3,000; increase in sales projected

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Using the AFN formula approach, calculate the total assets of this firm given the following information: Sales this year - $3,000; increase in sales projected for next year = 40 percent; net income this year - $500; dividend payout ratio - 70 percent; projected additional funds needed next year $300; accounts payable $300; notes payable - $100; and accrued wages and taxes = $200. Except for the accounts noted, there were no other current liabilities. Assume that the firm's profit margin remains constant and that the company is operating at full capacity.(2 points)

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