Exercise 7. A company is evaluating its financial requirements for the coming year based on its balance sheet from 2020 Estimate the company's financing requirements (total assets) for 2021 and its discretionary financing needs considering that the company expects sales to grow by 2% in 2021 20 2020 Sales 150,000 Balance sheet Current assets 74,500 B Net fixed assets Total assets 5 Account payables 42,000 116,500 Liability and equity 24,000 Long-term debt B Total liabilities Paid-in capital 30,000 54,000 11,000 Retained earnings 19,500 Common equity 32,000 2 Total liabilities & equity 116,500 +