Use the following information for questions I through 4: The Wampa Company 2019 First Pass Forecast Projected Balance Sheet Assets Liabilities Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Property Plant&Equipment Total Assets 40,000 10,000 70,000 80,000 200,000 220,000 420,000 Accounts Payable Accruals EFN: Note Payable Total Current Liabilities Bonds Total Liabilities Retained Eamings Common Stock Total Liabilities and Equity 35,000 25,000 20,000 80,000 240,000 320,000 40,000 420,000 2019 Forecasted Sales: $1,00,000- 2019 Forecasted Profit Margin-5% 1. The company has an inventory turnover ratio (sales/inventory) of 12.5. If they could improve that ratio in 2019 to the industry average of 13.5, what level of inventory would they need? Show your work. (Round to the nearest dollar) How much of the funds (EFN) would be released by bringing inventory to the industry average ratio? Show your work. (Round to the nearest dollar) 2. The company wants to bring receivables to the industry average. The Industry Average Collection Period (Receivables/ (Sales/Day)) is 20 days. What level of receivables would they need? Show your work. (Round to the nearest dollar) 3. 4. How much of the funds (EFN) would be released by bringing inventory to the industry average ratio? Sho your work. (Round to the nearest dollar) SEE BACK FOR TWO MORE QUESTIONS 5. What does EFN stand for (2 points)? 6. Provide four methods of how to obtain/reduce EFN (Very open ended question): 2. 4