Zapatera Enterprises is evaluating its financing requirements for the coming year. The firm has only been in business for one year, but its chief financial officer predicts that the firms operating expenses, current assets, net fixed assets, and current liabilities will remain at their current proportion of sales. Last year Zapatera had 12 million in sales with net income of 1.2 million. The firm anticipates that next year's sales will reach 15 million with net income rising to help defray the cost of new investments. The firms balance sheet as follows:
Balance sheet 12/31/10 % of sales
Current ssets $3,000,000 25%
Net fixed assets 6,000,000 50%
Total 9,000,000
Liabilities and owners eq 3,000,000 25%
Long term debt 2,000,000 Na
Total liabilities 5,000,000
Common stock 1,000,000 Na
Paid in capital 1,800,000 Na
Retained earing 1,200,000
Common equity 4,000,000
Total 9,000,000
Estimate Zapateras total financing requirements (total assets) and its net funding requirements (discretionary financing needed) for 2011.