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What is the amount of discretionary financing needed

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Question - A corporation established its projected sales at $210 million. It is using its current year balance sheet as a basis for creating a pro forma balance sheet. It estimates cash will be 7% of projected sales, accounts receivable will be 19% of projected sales, and property, plant, and equipment (PP&E) will be 55% of projected sales. Accounts payable are estimated to be 12% of projected sales. Owners' equity is $34 million. Long-term debt is $90 million. Additionally, the firm raised $12.9 million of equity capital. What is the amount of discretionary financing needed?

Reference no: EM132922212

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