Question: How would I solve the question pictured? What formulas would I use and steps would I take to solve the problem? Problem 15-6 Additional Funds

How would I solve the question pictured? What formulas would I use and steps would I take to solve the problem?

Problem 15-6 Additional Funds Needed (LG'IS-a) Suppose that Wind Em Corp. currently has the balance sheet shown below. and that sales for the yearjust ended were $8.0 million. The rm also has a prot margin of 20 percent, a retention ratio of 25 percent, and expects sales of $9.0 million next year. Assets Liabilities and Equity Current assets $2,869,660 Current liabilities $3,966,689 Fixed assets 6,969,089 Longterm debt 2,993,609 Equity 2,84%080 Total assets $8,866,663 Total liabilities and equity $8,360,060 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.) wwmnusma
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