"We really need to get this new material-handling equipment in operation just after the new year begins. I hope we can finance it largely with cash and marketable securtties, 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, rapidly growing wholesale r of consumer electronic products. The firm's main product lines are small kitchen appliances and power tools. Marcia Wilcox, Global Electron ics general manager of marketing, has recently completed a t. 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 remain constant f months. Global's projected balance sheet as of December 31, 20xO Is as follows: or several Cash Accounts recelvable Marketable securities Inventory Buildings and equipment (net of accumulated depreclation) 1,252.000 Total assets $ 70,000 540,000 30,000 308,000 $2.200,000 Accounts payable Bond interest payable Property taxes payable Bonds payable (10%, due in 20x6) Common stock Retained earnings $ 352,800 25,000 7.200 600,000 1,000,000 215,000 Totel liabilittes and stockholders equity $2.200,000 Jack Hanson, the assistant controller, is now preparing a monthly budget for the first quarter of 20x1 in the process, the following information has been accumulated