EMM, Inc. has the following balance sheet: EMM, Incorporated Balance Sheet as of 12/31/XO Assets Liabilities and Equity Cash $ 900 Accounts payable $ 4,300 Accounts receivable 8,200 Bank note payable 6,900 Inventory 6,000 Long term assets 4,100 Equity 8,000 $19,200 $ 19,200 It has estimated the following relationships between sales and the various assets and liabilities that vary with the level of sales: Accounts receivable - $3,270 +0.40 Sales, Inventory - $2,170 +0.26 Sales, Accounts payable = $1,115 + 0.20 Sales a. If the firm expects sales of $22,000, what are the forecasted levels of the balance sheet items above? Round your answers to the nearest dollar. Accounts receivable: $ Inventory: $ Accounts payable: $ b. Will the expansion in accounts payable cover the expansion in inventory and accounts receivable Round your answers to the nearest dollar The expansion in accounts payable of $ Select the total expansion in inventory and accounts receivable, which is Accounts payable: $ b. Will the expansion in accounts payable cover the expansion in inventory and accounts receivable? Round your answers to the nearest dollar The expansion in accounts payable of $ - Select the total expansion in inventory and accounts receivable, which is $ C. If the firm earns 14 percent on sales after taxes and retains all of these earnings, what is the forecasted equity? Round your answer to the nearest dollar d. Construct a new balance sheet that incorporates the issuing of additional short-term debt to cover any needs for additional finance. If the firm has excess funds, add them to cash. Round your answers to the nearest dollar EMM, Incorporated Balance Sheet as of 12/31/X1 Assets Liabilities and Equity Cash Accounts payable $ Accounts receivable Bank note payable Inventory Long-term assets Equity