Question #$1$

Year $2011$ ending retained earnings were $$3$ million. Year $2012$s forecasted net income $$1$ million with a $15\%$ dividend payout ratio. What are the forecasted retained earnings for year $2012?$

Question # $2$

A firm has a projected total assets of $$1$ million, projected total liabilities of $$1,500,000,$ and projected owner$$s equity of $$500,000.$ What is the discretionary financing needed $($DFN$)?$