Sales for 2008 are projected to be $25,000; The firm currently uses straight line depreciation; No new equipment purchases are planned for 2008; There will be a 100% earnings distribution for 2008. The current assets accounts payable and accrued expenses vary at a constant percent of sales as do COGS and selling expenses. Assume that notes payable is paid off in 2008.
Forecasted total assets for the end of 2008 are: