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Suppose that Wind Em Corp. currently has the balance sheet shown below, and that sales for the year just ended were $7.2 million. The firm also has a profit margin of 30 percent, a retention ratio of 20 percent, and expects sales of $8.2 million next year.
Assets Liabilities and Equity
Current assets$2,144,000
Current liabilities$2,717,280
Fixed assets 5,200,000
Long-term debt 1,600,000
Equity 3,026,720
Total assets$7,344,000
Total liabilities and equity$7,344,000
Question 1: If all assets and current liabilities are expected to grow with sales, what amount of additional funds will Wind Em need from external sources to fund the expected growth?
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