The Balance Sheet for the current year of a company is given below (All the figures are in Lacy- Liabilities Assets Equity Capital Retained EarningsP Term Loan 100 Land & Building 120 Machinery 160 Furniture Short Term Borrowings Creditors Provisions Other Information: PAT 120 Bills Receivables 100 Debtors 40 640 Stock Bank Sales Variable Expenses Fixed Expenses The following are the projections for the next year:- 1. The sales are expected to be 1,000. 800 7560 160 2. Fixed expenses will not change. 3. No change in the ratio of variable expenses to sales. 4. Interest expenses will be *20. 200 30 30 100 60 180 40 640 5. No change in fixed assets. Ignore depreciation. 6. Current assets and current liabilities will increase in proportion to sales. You are required to prepare the projected income statement and balance sheet of the company for the next year and calculate the EFR. If the asset side is less, then the difference to be considered as cash balance available.