Drexel Logistics stocks a wide range of computers and small electronics for a well-known online seller of computer equipment. Drexel handles the transfer, storage and shipping of product to the sellers customers. Drexels balance sheet as of 12/31/2018 is shown here in (millions

cash: $3.5 A/P: $9.0

A/R: $26. Notes pay: $18.0

Inventories:$58 Accruals: $8.5

Total current assets:$87.5 Total current liabilities: $ 35.5

Net fixed assets:$35. long term debt: $ 6.0.

Total assets: $122.5. common: $ 15.0

Retained earnings; $66.0

Total liabilities and Equity $122.5

Case requirements: 1. Given the above, prepare Drexels 2019 pro forma balance sheet and determine the additional financing needed (AFN) to support the projected sales increase. Assume that any external capital requirements are met by bank loans and reflected in Notes Payable.