Beason Manufacturing forecasts its sales next year to be $$$$6\mathrm{.}4$ million and expects to earn $5\mathrm{.}45$ percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions$($projections$)$:

bullet$$ Current assets are equal to $19\mathrm{.}8$ percent of$$ sales, and fixed assets remain at their current level of $$$$0\mathrm{.}9$ million.

bullet$$ Common equity is currently $$$$0\mathrm{.}89$million$,$ and the firm pays out half of its$$ after$-$tax earnings in dividends.

bullet$$ The firm has$$ short$-$term payables and trade credit that normally equal $12\mathrm{.}8$ percent of$$ sales, and it has no$$ long$-$term debt outstanding.

What are$$ Beason's financing needs for the coming$$ year?

Question content area bottom

Part $1$

$$Beason$\text{'}$s expected net income for next year is $$$

Beason's expected common equity balance for next year is $$$ $.($Round to the nearest$$ dollar.$)$