1. Problem 17.01 (AFN Equation) Problem Walk Through M Carlsbad Corporation's sales are expected to increase from $5 million in 2021 to $6 million in 2022, or by 20%. Its assets totaled $2 million at the end of 2021 Carlsbad capacity, it must grow in proportion to projected sales. At the end of 2021, current abilities are $1 million, consisting of $250,000 of accounts payable, $500,000 ofe payable, and $350,000 of accrued abilities. Its profit margin is forecasted to be 4%, and the forecasted retention ratio is 45%. Use the APN equation to forment the additional fun Cartabed will need for the coming year. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest d 6