You need to calculate an estimate of working capital and projected Balance Sheet for the year ended on 31.12.20 times 7 from the following information. Share capital 500,000 euro, Long-term loan (with fixed 15% p.a. interest) of 200,000 euro., Fixed assets at cost of 300,000 euro. The expected ratios of cost to selling price are: Raw materials 60%, Labour 10%, Overheads 20%. Raw materials are in stores for an average of 2 months. Finished goods are kept in warehouse for 3 months. Expected level of production 120,000 units per year. Each unit of production is expected to be in process for 1 month. Credit given by suppliers is 2 months. Raw materials are in stores for an average of 2 months. Finished goods are kept in warehouse for 3 months. Expected level of production 120,000 units per year. Each unit of production is expected to be in process for 1 month. Credit given by suppliers is 2 months. Selling price is 5 euro per unit Labour and overheads will accrue evenly during the year