A firm had the following balance sheet last year Cash Accounts receivable Inventory Net fixed as 800 Accounts payable 350 150 2,000 26, 500 3,200 Retained earnings 4,000 450 Accrued vages 950 Notes payable 34,000 Nortgage Conmon stock Total 11abi1ities Total aosets $36 200 and equity 135 200 Sales to triple from $10,000 to $30,000 increasing net n ome to $1,000 No additional fi ed assets will be needed The f m pays a 20% d outside capital be needed? (2) If so, how much? ind (1) Wil any Select one O A Yes, $9,700 B. Yes, $2,600 C. Yes, $2.900 D. No there will be a $2,400 surplus O E Yes, $3,200 Which of the following is a nocessary assumption in the Percentage-of Sales method of torecasting? Select one A. None of the firm's financial ratios will change B Accounts payable and accruals are tied directly to sales Common stock and long-term debt are tied directly to sales D Fixed assets, but not current assets, are bed drectly to sales C The halance sheet and incomo statement shown below are for Pettjohn Inc Note that the firm has no amortiration charges, it does not lease any assets, none