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with work please Using the AFN formula approach, calculate the total assets of this firm given the following information: Sales this year = $3,000; increase
with work please
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) Step by Step Solution
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