CN Railways Is North America's Fifth Largest Railway A)$64 Million
B)$165 Million
C)$342 Million
D)$580 Million
E)$965 Million

CN Railways is North America's fifth largest railway. Use the equation approach and CN's financial information for Year 10 to calculate additional funds needed (AFN) in Year 11. Selected Financial Statement Values and Ratios
CN Railway Company
As of December 31, Year 10 ($ millions)
$$\begin{array} { | c | c | } \hline \text { Total Assets } & \$ 18,924 \\\hline \text { Fixed Assets } & 16,898 \\\hline \text { Assets that Change with Sales } & 18,061 \\\hline \text { Total Revenues (Year 10) } & 6,110 \\\hline \text { Total Revenues (Year 11) } & 6,721 \\\hline \text { Change in Revenues } & 611 \\\hline \text { Total Liabilities } & 12,297 \\\hline \begin{array} { c } \text { Liabilities that Change with } \\\text { Sales }\end{array} & 2,134 \\\hline \text { Profit Margin } & 9.35 \% \\\hline \text { Dividend Payout Ratio } & 0 \% \\\hline\end{array}$$

A) $64 million
B) $165 million
C) $342 million
D) $580 million
E) $965 million