Reference no: EM131767543

Midwest Mining (MWM) expects its sales to grow by 20 percent next year. Last year, when the firm was operating at full capacity, MWM generated sales equal to $250,000 with assets of $800,000. MWM's current balance sheet shows that accounts payable and accruals are $150,000 notes payable are $25,000, long-term debt is $100,000, common stock is $450,000, and retained earnings are $75,000. Next year, MWM's net profit margin is expected to be the same as this past year, 5 percent, and the company plans to continue to pay 60 percent and the company plans to continue to pay 60 percent of earning as dividends. Estimate MWM's additional funds needed (AFN) for next year.