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need the second one

9.3 Refer to problem 9-1. Now assume that the company pays no dividends. under these assumptions, what would be the additional funds needed for the coming year! Why is this AFN different from the one you found in Problem 9-1? & Smaller, 8% instead of 40% te! 15010 hi Z Chapter a 9-1 Brussard Skateboard's sales are expected to increase buy from 8 million in 2015 to 9.2 million in 2016. It's assets. totaled $5 million at the end of 2015. Broussard is already at full capacity, so its assets must, grow at the same rate as projected sales. At the end of 2015, current liabilities were 1.4 million, Consisting of $450,000 of accruals. The after tax profit margin is forecasted to be 6% 3 the forecasted payout ratio is 40%. Use the APN equation to forecast Broussard's additional funds needed for the coming year. AFN :( A's/50). AS - (L.78.) AS S;M(1-POR) (grownth of 5) AFN = (5 mil/8 ml) 1.2 mil ) - (900,000/8 mil).1.2 mil) -9.2 milliy (4 021415095 .( (1-40%) (Acc. Pay + Accurls) AFN= 750,000 -135,000-331, 200 (AFN: 283,800 9.3 Refer to problem 9-1. Now assume that the company pays no dividends. under these assumptions, what would be the additional funds needed for the coming year? Why is this AFN different from the one you found in Problem 9-1? & Smaller, 8% instead of 40% OY 9.3 Refer to problem 9-1. Now assume that the company pays no dividends. under these assumptions, what would be the additional funds needed for the coming year! Why is this AFN different from the one you found in Problem 9-1? & Smaller, 8% instead of 40% te! 15010 hi Z Chapter a 9-1 Brussard Skateboard's sales are expected to increase buy from 8 million in 2015 to 9.2 million in 2016. It's assets. totaled $5 million at the end of 2015. Broussard is already at full capacity, so its assets must, grow at the same rate as projected sales. At the end of 2015, current liabilities were 1.4 million, Consisting of $450,000 of accruals. The after tax profit margin is forecasted to be 6% 3 the forecasted payout ratio is 40%. Use the APN equation to forecast Broussard's additional funds needed for the coming year. AFN :( A's/50). AS - (L.78.) AS S;M(1-POR) (grownth of 5) AFN = (5 mil/8 ml) 1.2 mil ) - (900,000/8 mil).1.2 mil) -9.2 milliy (4 021415095 .( (1-40%) (Acc. Pay + Accurls) AFN= 750,000 -135,000-331, 200 (AFN: 283,800 9.3 Refer to problem 9-1. Now assume that the company pays no dividends. under these assumptions, what would be the additional funds needed for the coming year? Why is this AFN different from the one you found in Problem 9-1? & Smaller, 8% instead of 40% OY