Chua Chang & Wu Inc A)-$14,440
B)-$15,200
C)-$16,000
D)-$17,640

question 36

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? $\begin{array}{l}\begin{array}{lll} \text { Last year's sales = S0 } &\$ 200,000 \\ \text { Sales growth rate= g } &40 \% \\ \text { Last year's total assets =A 0 } & \$ 135,000 \\ \text { Last year's pro fit } \operatorname{margin}=\mathrm{MI} & 20.0 \% \\\end{array}\begin{array}{lll} \text { Last year's accounts payable } &\$ 50,000\\ \text { Last year's notes payable (to bank) } &\$ 15,000 \\ \text { Last year's accruals } & \$ 20,000 \\ \text { Target payout ratio } & 25.0 \% \\\end{array}\end{array}$

• A)-$14,440
• B)-$15,200
• C)-$16,000
• D)-$17,640

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