20. Jones and Company has begun selling a new pie recipe and they want you to help them with next year's budgeted financial statements. Using the worksheet below, complete Jones and Company forecast and answer the questions which follow. Assumptions: To begin with, Jones and Company is sure sales will grow 50% next year. Assume that is true. Then assume that COGS, Current Assets, and Current Liabilities all vary directly with Sales (that means if sales grows a certain percentage, then the account in question will grow by that same percentage). Assume that fixed expenses will remain unchanged and that \$3,000 worth of new Fixed Assets will be obtained next year. Long term debt and common stock accounts remain unchanged. Lastly, the current dividend policy will be continued next year. Jones and Company Financial Forecast Amount need to balance the balance sheet (Projected total assets minus projected total liabilities \& equity *) - If this number is positive it means Jones and Company need additional external funding to finance their projected asset growth. If this number is negative it means Jones and Company has programmed too much financing for the amount of assets they project