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Q1) Cater corporation's sales are expected to increase from $5 million in 2005 to $6 million in 2006, or by 20 percent. Its assets totaled $3 million at the end of 2005. Carter is at full capacity, so its assets should grow in proportion to projected sales. At the end of 2005, present liabilities are $1 million. Comprising of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. After-tax profit margin is predicted to be 5 percent, and predicted retention ratio is 30%. Use AFN equation to predict Carter's extra funds required for coming year.

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