You are preparing to discuss borrowing needs with your bank's loan officer who asks you to prepare pro-forma financial statements. Below are the financial statements for the year just ended. Your sales department is projecting a 33% increase in sales. Days sales outstanding are expected to improve to 45 days. With respect to inventory and accounts payable, assume that purchases will be $11,118,800 and cash payments will be $10,006,920. The Company expects to invest $1,843,000 (net of depreciation) to expand its storage capacity and achieve scale savings. Accordingly, gross profit margins are expected to be 24% in the future. Other expenses are expected to remain the same percentage of sales. The retention ratio is 50%.

For ease of calculation, assume interest expense remains the same.

Cash 400,000

Sales 10,000,000

Accounts Receivable 1,400,000

Cost of Sales 8,000,000

Inventory 1,800,000

Gross Profit 2,000,000

Total current Assets 3,600,000

Operating Expense 900,000

Fixed Assets 1,400,000

EBIT 1,100,000

Total Assets 5,000,000

Interest Exp 100,000

EBT 1,000,000

Accounts Payable 1,200,000

Tax (30%) 300,000

Long-term Debt 1,000,000

Net Income 700,000

Total Debt 2,200,000

Common Stock 1,300,000

Retained earnings 1,500,000

Total Debt and Equity 5,000,000

In preparing your forecast financial statements, your forecast for Accounts Payable will be ?