Afn as 0 δs ls 0 δs ms 1 rr cash 100 accounts

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AFN = (A*/S 0 )ΔS – (L*/S 0 )ΔS – MS 1 (RR)
Cash 100 Accounts Payable 50 Accounts Receivable 200 Notes Payable 150 Inventories 200 Accruals 50 Net Fixed Assets 500 Long-Term Debt 400 Common Stock 100 Retained Earnings 250 Total Assets 1000 Total Liabilities and Equity 1000 The Booth Company's sale are forecasted to double from $1,000 in 2013 to $2,000 in 2014. Here is the December 31,2013 balance sheet Booth's fixed assets were used to only 50% of capacity during 2013, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rate as sales, and fixed assets would also have to increase at the same rate if the current excess capactiy did not exist. Booth's after-tax profit margin is forecasted to be 5% and its payout ratio to be 60%. What is Booth's additional funds needed AFN for the coming year?

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