Question: Use this table to answer this question (All are stated in million dollars) Edge Corp. Balance Sheet 2020 2019 Edge Corp. Balance Sheet 2020 2019

Use this table to answer this question (All are stated in million dollars)

Edge Corp. Balance Sheet

2020

2019

Edge Corp. Balance Sheet

2020

2019

Cash and cash equivalents

2,768

2,879

Accounts payable

8,022

7,251

Short-term investment sec.

954

1,029

Accruals

9,290

8,559

Accounts receivable

5,321

4,306

Notes Payables

9,981

8,472

Total inventories

7,077

6,384

Long-term debt

22,033

21,360

Prepaid expenses

5,548

4,184

Other borrowings

21,027

21,091

TOTAL CURRENT ASSETS

21,970

18,782

TOTAL LIABILITIES

70,353

66,733

Net Property Plants (Net PPE)

21,293

19,244

Common stock+ paid in Cap

58,134

58,134

Other long-term assets

95,091

90,146

Retained earnings

9,565

3,305

TOTAL ASSETS

138,052

128,172

TOTAL LIAB & EQUITY

138,052

128,172

Edge Corp. Income Statement

2020

2019

NET SALES

82,559

78,938

Cost of products sold

40,768

37,919

Selling, general and administrative expense

23,135

21,890

Depreciation expense

2,838

3,108

OPERATING INCOME

15,818

16,021

Interest expense

629

974

EARNINGS BEFORE INCOME TAXES

15,189

15,047

Income taxes

3,392

3,360

NET INCOME

11,797

11,687

Total Dividends Payments

5,537

5,186

Suppose the expected growth of net sales for 2021 is 10%, calculate the Edge Corp. Additional Fund Needed (AFN) for 2021 based on the 2020 status quo. Also, please explain the meaning of the Additional Fund Needed (AFN) for 2021 that you calculated to the firm.

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