You are joining Apollo Inc after a good year in 2020. Sales were up and are expected to continue to grow in 2021 . The most recent financial statements follow. iabilities \& Shareholder's Equity Liabilities \& Shareholder's Equity Current Liabilities The company is a little concerned about the impact their rate of growth may have on the financial stability of the company. Your first task is to look at any potential funding issues using the Required New Funding formula. Sales are expected to rise 10.0% in the coming year and your investigations indicate that the existing equipment is operating at full capacity and therefore should be expected to increase in the same proportion as sales for next year. The owners are interested to know if they will need bank financing next year to accommodate the increase in sales. They have asked you to use the RNF formula to calculate how much, if any, they will need to borrow from the bank. Any funds needed would come from the bank loan, any surplus funds would be used to reduce the bank loan. Use the space below to calculate Required New Funding