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A company sales are forecasted to double from $1,000 in 2015 to $2,000 in 2016.

balance sheet:

Cash $  100 

Accounts payable $ 50

Accounts receivable $200

 Notes payable $150

Inventories $200 

Accruals $50

Net fixed assets $500

 Long-term debt $400

Common stock $100

 Retained earnings $250

 Total assets $1000

 Total liabilities and equity $1000

fixed assets were used to only 50% of capacity during 2015.

After-tax is forecasted to be 4% and payout ratio to be 35%.

What is the additional funds needed (AFN) for the coming year?

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