Using the following data, determine the amount of additional financing needed for the next fiscal year:
| Sales |
$3,500 |
Accounts Payable |
$3,250 |
| Cash |
$400 |
Notes Payable |
$12,000 |
| Accounts Receivable |
$750 |
Long-Term Debt |
$5,000 |
| Inventory |
$2,050 |
Shareholder Equity |
$1,250 |
| Fixed Assets |
$15,500 |
Dividends |
$300 |
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| Sales Increase Per Year |
25% |
|
|
| Tax Rate |
35% |