- (Financial forecastingdiscretionary financing needs) J. T. Jarmon, Inc. has been in business for only 1 year, and the CFO expects that the relationship between firm sales and its operating expenses, current assets, net fixed assets, and current liabilities will remain at their current proportion of sales. Last year, Jarmon had $11 million in sales and net income of $1.10 million. The firm anticipates that next year's sales will reach $13.750 million, with net income rising to $1.21 milion Given its present high rate of growth, the firm retains all its earnings to help defray the cost of new investments The firm's balance shoot for 2018 is found in the popup window. Using the information provided, make an estimate of Jarmon's financing requirements or total assets for 2019 and its discretionary financing needs (DFN). What are Jarmon's financing requirements or total assets for 2019? Data Table (Round to the marost dollar) What are Jarmon's discretionary financing needs (OFN) for 2019? (Click on the following icon in order to copy its contents into a spreadsheet.) (Round to the nearest dolar) J. T. Jarmon, Inc. BALANCE SHEET 12/31/2018 % OF SALES op Current assets $3,300,000 30% Net fixed assets 5,500,000 50% oni Total $8,800,000 9pl LIABILITIES AND OWNER'S EQUITY Accounts payable $1,650,000 15% 590 Long-term debt 1,200,000 NA" Total liabilities $2.850,000 Common stock 1,000,000 NA Paid-in capital 3,850,000 NA Enter your answer in each of the answer boxes Retained earnings 1,100,000 Common equity 5.950,000 Total S8,800,000 PI re 30/ 0714 -590 -10714 3.59 0/12/20 Exam 1 Chapterx 1.7