The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Green Caterpillar Garden Supplies Inc. generated $350,000 net income on sales of $12,500,000. The firm expects sales to increase by 17% this coming year and also expects to maintain its long-run dividend payout ratio of 35%.Suppose Green Caterpillar Garden Supplies Inc.’s assets are fully utilized. Use the additional funds needed (AFN) equation to determine the increase in total assets that is necessary to support Green Caterpillar Garden Supplies Inc.’s expected sales. (Note: Do not round intermediate calculations.)$561,000$459,000$510,000$535,500
