The following is the balance sheet for 2003 for Marbell Inc. Marbell Inc. Balance Sheet 12/31/2003 Assets Liabilities and Stockholders’ Equity Cash $ 15,000 Accts. Payable $ 90,000 Accts. Rec. 90,000 Notes payable (non-spontaneous) 30,000 Inventory 60,000 Accrued expenses 7,500 Current Assets 165,000 Current Liabilities 127,500 Fixed assets (non-spontaneous) 60,000 Common stock 75,000 Retained earnings 22,500 Total assets $225,000 Total Liabilities + S.E. Equity $225,000 Sales for 2002 were $300,000. Sales for 2003 have been projected to increase by 20%. Assuming that Marbell Inc. is operating below capacity, calculate the amount of new funds required to finance this growth. Marbell has an 8% return on sales and 70% is paid out as dividends.