Following is the balance sheet of Cyan Inc.: ? Current assets $ 5,000 Accounts payable $ 1,000 Net fixed assets 10,000 Accruals 1,000 Long-term debt 5,000 Common equity 8,000 Total $15,000 Total
$15,000 ? Cyan currently is operating at full capacity. Next year, the firm expects sales to increase by 50 percent. It also expects to retain $2,000 of next year's earnings to invest in additional fixed assets. What will be Cyan's additional funds needed (AFN) next year?
A. No additional funds are required.
B. $1,000
C. $4,500
D. $4,000
E. $6,500
Answer: C
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