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( Forecasting financing needs ) Beason Manufacturing forecasts its sales next year to be $ 5 . 8 million and expects to earn 5 .
Forecasting financing needs Beason Manufacturing forecasts its sales next year to be $ million and expects to earn percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions projections:
Current assets are equal to percent of sales, and fixed assets remain at their current level of $ million.
Common equity is currently $ million, and the firm pays out half of its aftertax earnings in dividends.
The firm has shortterm payables and trade credit that normally equal percent of sales, and it has no longterm debt outstanding.
What are Beason's financing needs for the coming year?
Beason's expected net income for next year is $ Round to the nearest dollar.
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