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The following is the balance sheet for 2016 for Marbell Inc. Marbell Inc. Balance Sheet 12/31/2016...

The following is the balance sheet for 2016 for Marbell Inc.

Marbell Inc.

Balance Sheet

12/31/2016

Assets                                                                          Liabilities & Shareholders’ Equity

Cash                                        $15,000                       Accounts Payable             $90,000

Accounts Receivable               90,000                       Accrued Expenses                7,500

Inventory                                60,000                       Notes Payable                    30,000

Current Assets                        165,000                       Current Liabilities            127,500

Capital Assets                         60,000                       Common Stock                  75,000

                                                                                    Retained Earnings              22,500

Total Assets                           $225,000                      Total L & S.E.               $225,000     

  
Sales for 2016 were $300,000. Sales for 2017 have been projected to increase by 20%. Marbell Inc. is operating below capacity and needs no additional investment in capital assets. Marbell has an 8% return on sales and 70% is paid out as dividends. Use the RNF method to determine the amount of new funds required to finance this growth.

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