The following Information apples to the questions displayed below.] "We really need to get this new materlal-handling equipment In operation Just after the new year begins. I hope we can finance It largely with cash and marketable securities, but If necessary we can get a short-term loan down at MetroBank." This statement by Beth Davies-Lowry, president of Global Electronics Company concluded a meeting she had called with the firm's top management. Global is a small, rapldly growing wholesaler of consumer electronic products. The firm's maln product lines are small kitchen appliances and power tools. Marcia Wilcox, Global Electronics' general manager of marketing, has recently completed a sales forecast. She belleves the company's sales during the first quarter of 20x1 will Increase by 10 percent each month over the previous month's sales. Then Wilcox expects sales to remaln constant for several months. Global's projected balance sheet as of December 31, 20x0 is as follows: Cash Accounts recelvable Marketable securities Inventory Buldings and equipment (net of accumulated depreciation) $55,000 280,000 15,000 192,500 675,000 Total assets $1,217,500 Accounts payable Bond Interest payable Property taxes payable Bonds payable (6%; due in 20x6) Common stock Retalned earnings $257,250 8,250 4,800 330,000 500,000 117,200 Total liabiltles and stockholders' equity $1,217,500