Permanent versus seasonal funds requirements. Manchester Industries current, fixed, and total assets for each month of the coming year are summarized in the following table.

Month Current Fixed Total assets

assets assets [(1) + ( 2 )]

( 1 ) ( 2 ) ( 3 )

January $ 15,000 $ 30,000 $ 45,000

February 22,000 30,000 52,000

March 30,000 30,000 60,000

April 18,000 30,000 48,000

May 10,000 30,000 40,000

June 6,000 30,000 36,000

July 9,000 30,000 39,000

August 9,000 30,000 39,000

September 15,000 30,000 45,000

October 20,000 30,000 50,000

November 22,000 30,000 52,000

December 20,000 30,000 50,000

a. Divide the firms monthly total funds requirement (total assets) into a permanent and a seasonal component.