Carlsbad corporation's sales are expected to increase from $5 million in 2019 to $6 million in 2020, or by 20%. its assets totaled $3 million at the end of 2019. carlsbad is at full capacity, so its assets must grow in proportion to projected sales. at the end of 2019, current liabilities are $1 million, consisting of $250,000 of accounts payable, $500,000 of notes payable, and $250,000 of accrued liabilities. its profit margin is forecasted to be 4%, and the forecasted retention ratio is 30%. use the afn equation to forecast the additional funds carlsbad will need for the coming year. write out your answer completely. for example, 5 million should be entered as 5,000,000. round your answer to the nearest dollar.
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