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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were...

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Accounting

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Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary directly with sales. The firm is working at full capacity. Assets Cash Accounts receivable Inventory Current sets Fixed assets Balance Sheet in $ millions) Liabilities and Stockholders' Equity $ 10 Accounts payable 28 Accrued wages 31 Accrued taxes $ 69 Current liabilities 48 Noten payable Common stock Retained earnings $117 Total liabilities and stockholders' equity $ 23 10 16 $ 49 18 23 27 $ 117 Total assets Owen's Electronics has an aftertax profit margin of 8 percent and a dividend payout ratio of 30 percent If sales grow by 20 percent next year, determine how many dollars of new funds are needed to finance the growth. (Do not round intermediate calculations, Enter your answer in dollars, not millions, (e.g., $1,234,567).) Now funds

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