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Broussard Skateboard sales are expected to increase by 15% from $7.6 million in 2016 to $8.74...

Broussard Skateboard sales are expected to increase by 15% from $7.6 million in 2016 to $8.74 million in 2017. Its assets totaled $5 million at the end of 2016. Broussard is already at full capacity so its assets must grow at the same rate as projected sales. At the end of 2016 current liabilities were $1.4 million consisting of $450000 of accounts payable $500000 of notes payable and $450000 of accruals. The after tax profit margin is forecasted to be 6%. Assume that the company pays no dividends. What would be the additional funds needed for the coming year?

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jeff jeffy answered 5 months ago
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