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A colleague who is aware of your understanding of financial statements asks for help in analyzing the transactions and events of Zett Corporation. The following data are provided: ZETT CORPORATION Balance Sheets December 31, Year 1 and Year 2 Year 1 Year 2 Cash . . . . . . ... $ 34,000 $ 34 500 Accounts receivable, net . ... 12,000 17,000 Inventory. . 16,000 14,000 Investments (long term) . .. 6,000 Fixed assets 80,000 93.000 Accumulated depreciation. . 148.DO0) 134.000) Total assets. $100,000 $119 500 (continued) Additional Information: 1. Purchases in Year I are $450,000. 2. In Year 2, management expects 15% sales growth and a 10%% increase in all expenses except for depreciation, which increases by 5%. 3. Inventory turnover for Year 1 is 5.0, and management expects an inventory turnover ratio of 6.0 for Year 2. 4. A receivable collection period of 90 days, based on year-and accounts receivable, is planned for Year 2. 5. Year 2 income taxes, at the same rate on pretax income in Year 1, will be paid in cash. 6. Notes payable of $20,000 will be paid in Year 2. 7. Long-term debt of $25,000 will be repaid in Year 2. B. Kopp desires a minimum cash balance of $20,000 in Year 2. 9. The ratio of accounts payable to purchases will remain the same in Year 2 as in Year 1. Required: a. Prepare a statement of forecasted cash inflows and outflows (what-if analysis) for the year ending Decem- ber 31, Year 2. b. Will Kopp Corporation have to borrow money in Year 2