A new financial analyst has been asked to calculate the discretionary financing a company needs for the next year. To begin the analysis, the analyst calculates the forecasted income statement for the next year and the projected total assets. Which additional information does the analyst need to calculate the discretionary financing needed? Historical discretionary financing needed Historical income statement and historical total assets Projected total liabilities and projected owners' equity Projected cost of capital and projected firm credit rating Why are fixed assets sometimes called "lumpy assets"? Fixed assets grow smoothly with sales, so increases in fixed assets are proportional to sales growth. Fixed assets increase unevenly in spftmcific increments that are paid for as acquired. Fixed assets must be approved by a majority of shareholders instead of by managers or executives. Fixed assets represent physical equipment that is bulky and often difficult to move. What is the term for the incremental financing required given a firm's expectations for future growth? Equity financing needed Discretionary financing needed Debt financing needed Total financing needed