[OR] B. Mencias Corp. is evaluating its financing requirements for the coming year, 2023. The 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 (2022) Mencias Corp. had $12 million in sales with net income of $1.5 million. The firm anticipates that next year's sales will reach $17 million with net income rising to $2.125 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: Balance Sheet 2022 % of Sales. Current assets $3,000,000 25% Net fixed assets $6,000,000 50% Total Assets $9,000,000 Liabilities and Owners' Equity Accounts payable $3,000,000 25% Long-term debt $2,000,000 NA Total liabilities $5,000,000 Balance Sheet 2022 % of Sales Current assets $3,000,000 25% Net fixed assets $6,000,000 50% Total Assets $9,000,000 Liabilities and Owners' Equity Accounts payable $3,000,000 25% Long-term debt $2,000,000 NA Total liabilities $5,000,000 Common stock $1,000,000 NA Paid-in capital $1,500,000 NA Retained earnings $1,500,000 Common equity $4,000,000 Total $9,000,000 i) Estimate Mencias Corp. total financing requirements (total assets). [5 marks] ii) What is Mencias Corp. net funding requirements (discretionary financing needed) for 2022? [8.33 Marks]