"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 securttles, but if necessary we can get a short-term loan down at MetroBank." This statement by Beth Davles-Lowry, president of Global Electronics Company concluded a meeting she had called with the firm's top management. Global Iis a small, rapidly growing wholesaler of consumer electronic products. The firm's main product lines are small kitchen appliances and power tools. Marcla 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 remain constant for several months. Global's projected balance sheet as of December 31, 20xo is as follows Cash Accounts recelvable Marketable securities Inventory Bulldings and equipment (net of accumulated depreciation) $ 70,000 540,000 30,000 308,000 1,252,000 Total assets $2,200,000 Accounts payable Bond Interest payable Property taxes payable Bonds payable (10%, due in 20x6) Common stock Retalned earnings 352,800 25,000 7.200 600,000 1,000,000 215,000 $2.200,000 Total labilities and stockholders' equity 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