12-6 The Booth Company’s sales are forecasted to double from $1,000 in 2010 to $2,000 in 2011. Here is the December 31, 2010, balance sheet: Cash $100 Accounts Payable $50

12-6 The Booth Company’s sales are forecasted to double from $1,000 in 2010 to $2,000 in 2011. Here is the December 31, 2010, balance sheet: Cash $100 Accounts Payable $50 Accounts Receivable $200 Notes Payable $150 Inventories $200 Accruals $50 Net Fixed Assets $500 Long-term Debt $400 Common Stock $100 _______ Retained Earnings $250 Total Assets $1,000 Total Liabilities & Equity $1,000 Booth’s fixed assets were used to only 50% of capacity during 2010, but its current assets were at their proper levels in relation to sales. All assets except fixed assets must increase at the same rates as sales, and fixed assets would also have to increase at the same rate if the current excess capacity did not exist. Booth’s after-tax profit margin is forecasted to be 5% and its payout ratio to be 60%. is Booth’s additional funds needed (AFN) for the coming year?