s Electronics has 9 operating plants in seven southwestern s

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s Electronics has 9 operating plants in seven southwestern s

s Electronics has 9 operating plants in seven southwestern states. Sales for last year were $10… Show more Owen’s Electronics has 9 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. Balance Sheet (in $ millions) Balance Sheet (in $ millions) Balance Sheet (in $ millions) Balance Sheet (in $ millions) Balance Sheet (in $ millions) Balance Sheet (in $ millions) Assets Assets Assets Liabilities and Stockholders’ Equity Liabilities and Stockholders’ Equity Liabilities and Stockholders’ Equity Cash $ 13 Accounts payable $ 24 Accounts receivable 29 Accrued wages 11 Inventory 30 Accrued taxes 15 Current assets $ 72 Current liabilities $ 50 Fixed assets 47 Notes payable 19 Common stock 22 Retained earnings 28 Total assets $ 119 Total liabilities and stockholders’ equity $ 119 Owen’s has an aftertax profit margin of 6 percent and a dividend payout ratio of 40 percent. If sales grow by 25 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 in millions. Omit the “$” sign in your response.) New funds $ • Show less

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