Assets	2012	2013	2014
Non-current assets
Capital assets	27,19,000	29,19,000
Accumulated depreciation/amortization	(595,000)	(700,000)
Net capital assets	21,24,000	22,19,000
Other assets (intangible)	100,000	200,000
Total non-current assets	22,24,000	24,19,000
Current assets
Inventories	256,000	268,000
Trade receivables	420,000	459,000
Cash and cash equivalents	48,000	54,000
Total current assets	724,000	781,000
Total assets	29,48,000	32,00,000
Equity and liabilities
Equity
Share capital	800,000	800,000
Retained earnings	652,000	904,500
Total equity	14,52,000	17,04,500
Non-current liabilities	950,000	10,00,000
Current liabilities
Trade and other payables	140,000	131,600
Notes payable	256,000	263,900
Other current liabilities	150,000	100,000
Total current liabilities	546,000	495,500
Total liabilities	14,96,000	14,95,500
Total equity and liabilities	29,48,000	32,00,000

Use the Following Assumptions to Create a Projected Balance Sheet for the Year 2014Related to the statement of financial position: a. Non-current asset accounts Investment in new capital assets will be $660,000. Other assets will be increased by $100,000. b. Current asset accounts Inventories will improve to 4.9 times. Trade receivables will improve to 44.9 days. Cash and cash equivalents will be 2.0% of revenue. c. Equity Shareholders will invest an additional $200,000 in the business. d. Non-current liabilities Long-term borrowings will increase by $39,700. e. Current liabilities Trade and other payables will increase to 11.31% of cost of sales. Notes payable will increase to $268,685. Use the Following Assumptions to Create a Projected Balance Sheet for the Year 2014Related to the statement of financial position: a. Non-current asset accounts Investment in new capital assets will be $660,000. Other assets will be increased by $100,000. b. Current asset accounts Inventories will improve to 4.9 times. Trade receivables will improve to 44.9 days. Cash and cash equivalents will be 2.0% of revenue. c. Equity Shareholders will invest an additional $200,000 in the business. d. Non-current liabilities Long-term borrowings will increase by $39,700. e. Current liabilities Trade and other payables will increase to 11.31% of cost of sales. Notes payable will increase to $268,685.