Owen’s Electronics has nine operating plants in seven southwestern states. Sales for last year were $100 million, and the balance sheet at year-end is similar in percentage of sales to that of previous years (and this will continue in the future). All assets (including fixed assets) and current liabilities will vary directly with sales. The firm is working at full capacity. Balance Sheet (in $ millions) Assets Liabilities and Stockholders' Equity Cash $ 10 Accounts payable $ 21 Accounts receivable 22 Accrued wages 8 Inventory 27 Accrued taxes 12 Current assets $ 59 Current liabilities $ 41 Fixed assets 47 Notes payable 17 Common stock 21 Retained earnings 27 Total assets $ 106 Total liabilities and stockholders' equity $ 106 Owen’s has an aftertax profit margin of 8 percent and a dividend payout ratio of 50 percent. If sales grow by 25 percent next year, determine how many dollars of new funds are needed to finance the growth. (Do not round intermediate calculations. Enter your answer in dollars, not millions, (e.g., $1,234,567).) New funds $ eBook & Resources eBook: Percent-of-Sales Method