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Business, 12.12.2019 03:31 dylanclark4965

(financial forecastinglong dashdiscretionary financing needs) j. t. jarmon, inc. has been in business for only 1 year, and the cfo expects that the relationship between firm sales and its operating expenses, current assets, net fixed assets, and current liabilities will remain at their current proportion of sales. last year, jarmon had $13 million in sales and net income of $1.30 million. the firm anticipates that next year's sales will reach $16.250 million, with net income rising to $1.43 million. given its present high rate of growth, the firm retains all its earnings to defray the cost of new investments. thefirm's balance sheet for 2018 is found in the popup window:

balance sheet
12/31/2018 % of sales
current assets 3,250,000 25%
net fixed assets 6,500,000 50%
total 9,750,000
liabilities and owner's equity
accounts payable 3,250,000 25%
long-term debt 1,300,000
total liabilities 4,550,000
common stock 1,000,000
paid-in capital 2,900,000
retained earnings 1,300,000
common equity 5,200,000
total 9,750,000

using the information provided, make an estimate of jarmon's financing requirements or total assets for 2019 and its discretionary financing needs

(dfn).

what are jarmon's financing requirements or total assets for2019?   

$__ (round to the nearest dollar.)

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(financial forecastinglong dashdiscretionary financing needs) j. t. jarmon, inc. has been in busines...
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