Chua Chang & Wu Inc ?
A) -$14,820
B) -$23,180
C) -$19,000
D) -$21,280
E)

question 34

Multiple Choice

Chua Chang & Wu Inc.is planning its operations for next year,and the CEO wants you to forecast the firm's additional funds needed (AFN) .Data for use in your forecast are shown below.Based on the AFN equation,what is the AFN for the coming year? $\begin{array}{llll}\text { Last year's sales }=\mathrm{S}_{0} & \$ 200,000 & \text { Last year's accounts payable } &\$ 50,000 \\\text { Sal es growth rate }=\mathrm{g} & 40 \% & \text { Last year's notes payable } & \$ 15,000 \\\text { Last year's total assets }=\mathrm{A}_{0} * & \$ 127,500 & \text { Last year's accruals } & \$ 20,000 \\\text { Last year's profit margin }=\mathrm{PM} & 20.0 \% & \text { Target payout ratio } & 25.0 \%\end{array}$
?

• A) -$14,820
• B) -$23,180
• C) -$19,000
• D) -$21,280
• E) -$20,520

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