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I AM SOOO LOST! Please Help! Suppose that Psy Ops Industries currently has the balance sheet shown below, and that sales for the year just ended were…

I AM SOOO LOST! Please Help!

Suppose that Psy Ops Industries currently has the balance sheet shown below, and that sales for the year just ended were $5.8 million. The firm also has a profit margin of 30 percent, a retention ratio of 20 percent, and expects sales of $8.8 million next year.

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Current assets$ 2,784,000

 Fixed assets  4,400,000 

Current liabilities$ 2,204,000

Long-term debt  1,900,000

Equity  3,080,000

Total assets$ 7,184,000 

Total liabilities and equity$ 7,184,000 

If fixed assets have enough capacity to cover the increase in sales and all other assets and current liabilities are expected to increase with sales, what amount of additional funds will Psy Ops need from external sources to fund the expected growth?

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