Zapatera enterprises is evaluating its financing rewuirements for the coming year. The firm has only been in business for one year, but its CFO predicts that the firms opersting expenses, current assets, net fixed assets, and current liabilities will remain at their proportion of sales. Last year zapatera had $$11\mathrm{.}72$ million in sales with net income of $$1\mathrm{.}23$ million. The firm anticipates that next years sales will reach $14\mathrm{.}69$ million with net income rising to $$2\mathrm{.}15$ million. Given its present high rate of growth, the firm retains all of its earnings to help defray the cost of new investments.

The firms balance sheet for the year just ended is as follows

Zapatera Enterprises, Inc.

$N{A}^a.$ This figure does not vary directly with sales and is assumed to remain

constant for purposes of forecasting next year's financing requirements.

$($Click on the icon in order to copy its contents into a spreadsheet.$)$

Estimate zapateras total financing rewuirements $($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 $2013$