Help Save & Exit Check my Problem 15-6 Additional Funds Needed (LG15-4) Suppose that Wind Em Corp. currently has the balance sheet shown below, and that sales for the year just ended were $6.2 million The firm also has a profit margin of 25 percent, a retention ratio of 30 percent, and expects sales of $7.2 million next year. Assets Current assets Fixed assets $1,504,000 4,200,000 Liabilities and Equity Current liabilities $1,597,120 Long-term debt 1,900,000 Equity 2,206,880 Total liabilities and $5,704,000 equity Total assets $5,704,000 If all assets and current liabilities are expected to grow with sales, what amount of additional funds will Wind Em need from external sources to fund the expected growth? (Enter your answer in dollars not in millions.) Additional funds needed