$2.$ Torpedo Appliances Corporation projects next year$$s sales to be RM$20$ million. Current sales are at RM$15$ million, based on current assets of RM$7$ million and fixed assets of RM$8$ million. The firm$$s net profit margin is $5\%$ after taxes. Torpedo forecasts that current assets will rise in direct proportion to the increase in sales but that fixed assets will increase by only RM$150,000.$ Currently, Torpedo has RM$1\mathrm{.}5$ million in accounts payable $($which vary directly with sales$),$ RM$7$ million in long$-$term debt $($due in $10$ years$),$ and common equity $($including RM$4$ million in retained earnings$)$ totaling RM$6\mathrm{.}5$ million. Torpedo plans to pay RM$500,000$ in common stock dividends next year.

Required:

a$.$ Prepare the proforma balance sheet $2024$ based on the above information.

b$.$ What is the Torpedo$$s totally financing needs $($TFN$)$ that is$,$ total assets for the coming year?

c$.$ Given the firm$$s projections and dividend payment plans, what are its discretionary financing needs $($DFN$)?$