Clayton industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm's additional funds needed (AFN). data for use in your forecast are shown below. based on the AFN equation, what is the AFN for this coming year? dollars are in million.
last year's sales=s0 $350
sales growth rate= 30%
last year's total assets= $500
A0
last year's profit margin 5%
=M
last year's accounts payable $40
last year's notes payable (to bank) $50
last year's accruals. $30
Target payout ratio 60%