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Use the following information to make projections regarding AIS for 2015. Assume that revenue growth is 5%, depreciation is 10% of fixed assets, EBITDA margin

Use the following information to make projections regarding AIS for 2015. Assume that revenue growth is 5%, depreciation is 10% of fixed assets, EBITDA margin increases from 12% to 13%, interest is 12.5% of the prior year's debt. Cash, prepaid expenses, and fixed assets remain unchanged, all working capital accounts increase as a fixed % of revenue. The tax rate is 34%.

2014 Income Statement 2014 Balance Sheet
Revenue 20000.0 Assets Liabilities & Equity
EBITDA 2400.0 Cash 215 Accounts Payable 7500
depreciation 1486 Prepaid Expenses 1300 Short Term Debt 5400
Interest 1740.1 Accounts Receivable 3750 Long Term Debt 7264
EBT -826.1 Inventory 4850 Retained Earnings 150
Taxes -280.87 Deferred Tax Assets 854 Paid in Cap 2655
Net Income -545.23 Fixed Assets 12000
total 22969 total 22969

  1. How much additional external funding does the firm require in 2015?
  2. Calculate both ROE and ROA for 2015

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