Harmon Photo Company – total assets – 

Using the AFN formula approach, calculate the total assetsof Harmon Photo Company given the following information: ,Sales this year =$3,000; increase in sales projected for next year = 20%; net income this year =$250; Dividend payout ratio = 40%; projected excess funds available next year =$100; accounts payable = $600; notes payable = $100; and accrued wages andtaxes = $200.  ,Except for the accounts noted, there were no other currentliabilities.  Assume that the firm’s profit margin remains constant andthat the company is operating at full capacity.