Use the Following Assumptions to Create a Projected Balance Sheet for the Year 2014Related to the statement of financial position: a. Non-current asset accounts • Investment in new capital assets will be $660,000. • Other assets will be increased by $100,000. b. Current asset accounts • Inventories will improve to 4.9 times. • Trade receivables will improve to 44.9 days. • Cash and cash equivalents will be 2.0% of revenue. c. Equity • Shareholders will invest an additional $200,000 in the business. d. Non-current liabilities • Long-term borrowings will increase by $39,700. e. Current liabilities • Trade and other payables will increase to 11.31% of cost of sales. • Notes payable will increase to $268,685.
