(Financial forecasting)??Zapatera Enterprises is evaluating its financing requirements for the coming year. The firm has only been in business for one? year, but its CFO predicts that the? firm's operating? expenses, current? assets, net fixed? assets, and current liabilities will remain at their current proportion of sales.??Last year Zapatera had $12.46 million in sales with net income of $1.17 million. The firm anticipates that next? year's sales will reach $14.36 million with net income rising to $2.13 million. Given its present high rate of? growth, the firm retains all of its earnings to help defray the cost of new investments.

The? firm's balance sheet for the year just ended is as? follows:??

The firm's balance sheet for 2013 is found below.

Estimate Zapatera's total financing requirements (total assets) and its net funding requirements (discretionary financing needed) for 2014.??

Note: Use the percentage of sales given in Zapatera Enterprises' balance sheet for 2013.

Hint: Make sure to round all intermediate calculations to at least five decimal places.

The 2014 retained earnings are $__________(Round to the nearest dollar.)

Complete the pro forma balance sheet for 2014 below:??(Round to the nearest dollar.)

Zapatera Enterprises, Inc.

Pro forma Balance Sheet12/31/14

Current assets

Net fixed assets

Total

Liabilities and Owners' Equity

Accounts payable

Long-term debt

Total liabilities

Common stock

Paid-in capital

Retained earnings

Common equity

Data Table Zapatera Enterprises, Inc. of Sales Balance Sheet 1231/13 3,200,000 Current assets 25.682% 6,300,000 50.562% Net fixed assets Total 9,500,000 Liabilities and Owners' Equity 22.472% Accounts payable 2.800.000 Long-term debt 2,200,000 NAa Total liabilities 5,000,000 Common stock NAa 1,500,000 1,400,000 NAa Paid-in capital 1,600,000 Retained earnings Common equity 4,500,000 Total 9.500.000 NAa. This figure does not vary directly with sales and is assumed to remain Print Done CFO IISInd of s