The Booth Company's sales are forecasted to increase from $1,000 in 2007 to $2,000 in 2008. Here is the balance sheet for December 31, 2007.

Booth's fixed assets were used to only 50% of capacity during 2007, but its current assets were at their proper levels. All assets except fixed assets increase at the same rate as sales, and fixed assets would also increase at the same rate if the current excess capacity did not exist. Booth's after-tax profit margin is forecasted to be 5%, and its payout ratio will be 60%. What is Booth s additional funds needed for the comingyear?"

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Cash Acc Rec Inventory Net Fixed assets 100 Accts Payable 200 Notes Payable 200 500 Accruals Long-Term Debt Common Stock Retained eanings Total Liabilities & Equity 50 150 50 400 100 250 $1,000 Total Assets S1,000