Ccc currently has sales of $26,000,000 and projects sales of $32,500,000 for next year. the firm's current assets equal $10,000,000 while its fixed assets are $9,000,000. the best estimate is that current assets will rise directly with sales while fixed assets will rise by $500,000. the firm presently has $5,000,000 in accounts payable, $3,500,000 in long-term debt, and $10,500,000 in common equity. all current liabilities are expected to change directly with sales. ccc plans to pay $900,000 in dividends next year and has a 5.0% net profit margin. what are the company's additional funds needed for the next year? (round your answer to the nearest dollar.)

$1,025,000

Explanation:

Given that,

Current sales = $26,000,000

Projects sales = $32,500,000

Current assets = $10,000,000

Fixed assets = $9,000,000

Fixed assets will rise by $500,000

Accounts payable = $5,000,000

Long-term debt = $3,500,000

Common equity = $10,500,000

dividends = $900,000

net profit margin = 5%

Additional Funds Needed(AFN) can be calculated with the use of following formula:

AFN:

=

=

= $22,000,000 - $9,750,000 - $11,225,000

= $1,025,000

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answer; balance sheets;