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Suppose that Wind Em Corp. currently has the balance sheet shown below, and that sales for the year just ended were $7.2 million. The firm also has a profit margin of 30 percent, a retention ratio of 20 percent, and expects sales of $8.2 million next year. Assets Liabilities and Equity Current assets $ 2,144,000 Current liabilities $ 2,717,280 Fixed assets 5,200,000 Long-term debt 1,600,000 Equity 3,026,720 Total assets $ 7,344,000 Total liabilities and equity $ 7,344,000 If all assets and current liabilities are expected to grow with sales, what amount of additional funds will Wind Em need from external sources to fund the expected growth?

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