a)What are Jarmon's financing requirements or total assets for 2019? $___?___(Round to the nearest dollar.)

b)What are Jarmon's discretionary financing needs (DFN) for 2019? $___?___(Round to the nearest dollar)

Please solve step by step all the sections that need to be answered in the question.

(Financial forecastingdiscretionary financing needs) J. T. Jarmon, Inc. has been in business for only 1 year, and the CFO expects that the relationship between firm sales and its operating expenses, current assets, net fixed assets, and current liabilities will remain at their current proportion of sales. Last year, Jarmon had $15 million in sales and net income of $1.50 million. The firm anticipates that next year's sales will reach $18.750 million, with net income rising to $1.65 million. Given its present high rate of growth, the firm retains all its earnings to help defray the cost of new investments The firm's balance sheet for 2018 is found in the popup window. Using the information provided, make an estimate of Jarmon's financing requirements or total assets for 2019 and its discretionary financing needs (DFN). What are Jarmon's financing requirements or total assets for 2019? $(Round to the nearest dollar.) (Click on the following icon in order to copy its contents into a spreadsheet.) J. T. Jarmon, Inc. Current assets Net fixed assets Total % OF SALES 20% 50% BALANCE SHEET 12/31/2018 $3,000,000 7,500,000 $10,500,000 LIABILITIES AND OWNER'S EQUITY $3,000,000 1,200,000 $4,200,000 1,000,000 3,800,000 1,500,000 6,300,000 $10,500,000 Accounts payable Long-term debt Total liabilities Common stock Paid-in capital Retained earnings Common equity Total 20% NA NA NA *Not applicable. This figure does not vary directly with sales and is assumed to remain constant for purposes of making next year's forcast of financing requirements