WHITE & PINKMAN CORPORATION Historical and Projected Balance Sheets Projection with AFN/ Historical Projected Excess Financing Dec 31, 2021 Dec 31, 2022 Incorporated ASSETS Current Assets: Cash $9,000,000 Marketable Securities $8,000,000 Accounts Receivable (gross) $1,200,000 Less: Allowance for Bad Debts $200,000 Accounts Receivable (Net) $1,000,000 Inventory $20,000,000 Prepaid Expenses $1,000,000 Total Current Assets $39,000,000 Plant and Equipment (gross) $20,000,000 Less: Accumulated Depreciation $9,000,000 Plant and Equipment (net) $11,000,000 TOTAL ASSETS $50,000,000 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $12,000,000 Notes Payable $5,000,000 Accrued Expenses $3,000,000 Total Current Liabilities $20,000,000 L-T Debt (Bonds Payable, 5%, due 2025) $20,000,000 Total Liabilities $40,000,000 Common Stock (1,000,000 shares, $1 par) $1,000,000 Capital in Excess of Par $4,000,000 Retained Earnings $5,000,000 Total Equity $10,000,000 TOTAL LIABILITIES AND EQUITY $50,000,000 Question 2a. Excess Financing (Additional Funds Needed)