JOLIO Save Homework: Chapter 20 Homework 2020 Score: 0 of 1 pt P 20-2 (similar to) 1 of 15 (11 complete) HW Score: 66.29%, 9.94 of 15 pts : Question Help Emerald City Umbrellas sells umbrellas and rain gear in Seattle, so its sales are fairly level across the year. However, it is branching out to other markets where it expects demand to be much more variable across the year. It expects sales in its new market of g Q1 $20,250 Q2 $49,750 Q3 $10,000 Q4 $50,500 Sales It carries inventory equal to 22% of next quarter's sales, has accounts payable of 11% of next quarter's sales, and accounts receivable of 18% of this quarter's sales. a. Assume that it starts with $4,455 in inventory, $2,228 in accounts payable, and no accounts receivable for the new market. Forecast its working capital levels and changes over the four quarters. b. If Emerald City Umbrellas has net income equal to 22% of sales, what will be its financing needs over the four quarters? a. Assume that it starts with $4,455 in inventory, $2,228 in accounts payable, and no accounts receivable for the new market. Forecast its working capital levels and changes over the four quarters Calculate Emerald City Umbrellas' working capital level in the current period and over the next four quarters: (Round to the nearest dollar.) Accounts receivable $ Inventory Current 0 $ 4,455 $ 2,228 $ 2,227 $ Accounts payable Working capital $ Changes in working capital Enter any number in the edit fields and then click Check Answer. parts remaining Clear All Check Answer O 6:54 PM 4/30/2020 E2