Business, 27.05.2021 06:50 enrique764058

Owen's Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at your-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. Balance Sheet in millions
Assets
Cash $5
Accounts Recievable $23
Inventory $26
Current assets $54
Fixed assets $43
Total Assets $97

Liabilities and Stockholders' Equity
Accounts payable $18
Accrued Wages $5
Accrued taxes $11
Current Liabilities total $34
Notes payable $13
Common Stocks $18
Retained earnings $32
Total liabilities and stockholders' equity totals $97
Owen's Electronics has an after tax profit margin of 8 percent and a dividend payout ratio of 30 percent. If sales grow by 15 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)
New funds = ?

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

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