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Cleon’s, has sales of $47,000, current assets of $5,100, current liabilities of $6,200, net fixed assets...

Cleon’s, has sales of $47,000, current assets of $5,100, current liabilities of $6,200, net fixed assets of $51,500, and a profit margin of 3 percent. The firm has no long-term debt and does not plan on acquiring any, therefore, there are no interest expenses. The firm does not pay taxes nor pay any dividends. Sales are expected to increase by 5 percent next year. If all assets, short-term liabilities, and costs vary directly with sales, how much additional equity financing is required for next year?

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