Zapatera Enterprises is evaluating its financing requirements for the coming year. The firm has been in business for only 1 year, but the CFO predicts the firm's operating expenses, current assets, net fixed assets, and current liabilities will remain at their current proportion of sales. Last year Zapatera had $11,54 million in sales and net income of $1.19 million. The firm anticipates that next year's sales will reach $14.37million, with net income rising to $2.12 million. Given its present high rate of growth, the firm retains all its earnings to help defray the cost of new investments. The firm's balance sheet for 2013 is found below.

Estimate Zapatera's total financing requirements (total assets) and its net funding requirements (discretionary financing needed) for 2014.??

Note: Use the percentage of sales given in Zapatera Enterprises' balance sheet for 2013.

Hint: Make sure to round all intermediate calculations to at least five decimal places.

The 2014 retained earnings are $__________(Round to the nearest dollar.)

Complete the pro forma balance sheet for 2014 below:??(Round to the nearest dollar.)

Zapatera Enterprises, Inc.

Pro forma Balance Sheet12/31/14

Current assets

$

Net fixed assets

Total

Liabilities and Owners? Equity

Accounts payable

Long-term debt

Total liabilities

Common stock

Paid-in capital

Retained earnings

Common equity

Total