9-6: Additional Funds Needed (AFN) Equation Methad Problem 9-6 Additional Funds Needed The Booth Company's sales are forecasted to double from $1,000 in 2015 to $2,000 in 2016. Here is the December 31, 2015, balance sheet: $ 50 100 Accounts payable 200 Notes payable 200 Accruals 500 Long-term debt Accounts recevable Net fixed assets Common stock Retained earnings Total assets 1000 Total liabilities and equity $1000 Booth's fixed assets were used to on y 50% o capacity during 2015, but its current assets were at their proper levels in relation o sales. All assets except fi ed assets must increase at the same rate as sales and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth's after-tax profit margin is forecasted to be 3% and its payout atio to be 30% what is Booth's additional funds needed AFN or the coming year? Round your answer to the nearest dollar