What are? sambonoza financing needs for the coming? year

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Reference no: EM131856799

?(Financial forecasting?) Sambonoza Enterprises projects its sales next year to be $8 million and expects to earn 4 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions? (projections):

Current assets will equal 23 percent of? sales, and fixed assets will remain at their current level of $1 million.

Common equity is currently $0.70 million, and the firm pays out half of its? after-tax earnings in dividends.

The firm has? short-term payables and trade credit that normally equal 11 percent of? sales, and it has no? long-term debt outstanding.

What are? Sambonoza's financing needs for the coming? year?

?Sambonoza's financing needs for the coming year are $ million. ?(Round to two decimal? places.)

Reference no: EM131856799

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