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What is the firm AFN for the coming year

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Question - Cold Duck Manufacturing Inc. reported sales of $743,000 at the end of last year; but this year, sales are expected to grow by 10%. Cold Duck expects to maintain its current profit margin of 20% and dividend payout ratio of 30%. The firm's total assets equaled $450,000 and were operated at full capacity. Cold Duck's balance sheet shows the following current liabilities: accounts payable of $70,000, notes payable of $40,000, and accrued liabilities of $80,000. Based on the AFN (Additional Funds Needed) equation, what is the firm's AFN for the coming year?

Reference no: EM133055428

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