ILLUSTRATION The following is the financial statement of XYZ Company Limited. The company is seeking to make projections on its financing needs for the upcoming year. They have talked you, is the Finance Offio, to make the relevant estimations and determine any additional funding needs. GH000 2.500 1250) 1.250 Statement of Profit or less for the Year Ending October 2021 Notes GHe on Sales A Cost of Sales B B Gross Profit Expenses. Administrative 25 Sales and Marketing C 100 General 15 Earnings before interest and Tax D Interest E Earnines before tax Tax F Emning after tax Dividends G Retained in 170 108 680 (170 510 25 485 Statement of Financial Plan A At 31 October 2021 Non-Current Asset Notes Property H Plant and Machinery H Vans H H GH'000 10.000 35.000 25.000 10,000 Current Assets Inventory Accounts Receivables Cash and Cash Equivalent H H H 15.000 38.000 200.000 120.000 220.000 Total Assets EQUITY LIABILITIES Opening Equity Retained Earning 173.000 2525 55385 LONG-TERM LIABILITIES Loan 2000 CURRENT LIABILITIES Accounts Payable TOTAL LIABILITIES Equity Total Labilities 19513 635 220.000 Notes A XYZ Company Limited is targeting a sales growth of 2510 mest growing demam and increase its market ture B.Cost of sales ratio remains unchanged. C. Sales and marketing expenditure is expected to increase in proportion with sales increase D. Profit margin remains unchanged. E Interest on loan is 20%. The loun has a maturity period often (10) years F. Corporate tax rate is 15%. G.Dividend pay-cult ratio remains unchanged. H. Asset to saules ratios remiti unchangeul 1. Spontaneous liabilities to remain unchanged J.XYZ Company Limited is currently operating at full capacity. Raouirements: : 1. Compute the self-supporting prowth rate of XYZ Company Limited 2. Using the relevant sales target, are there any additional finding needs for XYZ Company Limitol? Ure both formula approach and the pro-forma financial statement amach. 3. If there is the need for additional famils discuss some of the ces of funds and the , implications for the company