Question #$1$

A corporation has retained an accounting firm$$s consulting services. The firm$$s primary objective is to assist with the corporation$$s forecasting for the next quarter. The Corporation wishes to use the percentage of sales method and has the following data available. Projected Total Assets: $$280$ Million Projected Total Liabilities: $$150$ million Projected Owner$$s equity $$80$ million How much discretionary financing is needed$($DFN$)$ based on the above information?

Question # $2$

Which component of the income statements is reduced by the cost of goods sold to arrive at gross profit? Select correct answer: A$)$ EBT B$)$ EBIT C$)$ Net Income D$)$ Revenues