Help Save & Exit Submit Check my work Problem 4-27 Percent-of-sales method (L04-3) Owen's Electronics has nine operating plants in seven southwestern states Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years and this will continue in the future) All assets including fixed assets) and current liabilities will vary directly with sales. The form is working at full capacity Assets Cash Accounts receivable Inventory Current assets Fixed assets Balance Sheet (in 5 millions) Liabilities and Stockholders Equity $ Accounts payable 26 Accrued wages 29 Accrued taxes 563 Current liabilities 6 Notts payable Common stock Retoond warnings $199 Total abilities and stockholders' equity $ 23 B 14 S. 43 16 21 20 $ 109 Total assets Owen's Electronics has an aftertax profit margin of 6 percent and a dividend payout ratio of 50 percent if sales grow by 10 percent next yeat determine how many dollars of new funds are needed to finance the growth (Do not round Intermediate calculations. Enter your answer in dollars, not millions, (eg. $1,234,567). av att Sum Check my work Assets Cash Accounts receivable Inventory Current assets Fixed assets Balance Sheet (in s millions) Liabilities and Stockholders' Equity 5 8 Accounts payable 26 Accrued wages 29 Accrued taxes 563 Current liabilities 46 Notes payable Common stock Retained earnings $ 109 Total liabilities and stockholders equity $ 21 8 14 $ 43 16 21 29 $100 Total assets Owen's Electronics has an aftertax profit margin of 6 percent and a dividend payout ratio of 50 percent If sales grow by 10 percent next year, determine how many dollars of new funds are needed to finance the growth (Do not round intermediate calculations. Enter your answer in dollars, not millions, (0.9.. $1,234,567).) New funds