1)Show how to solved it on excel what function is used.

2) Show how to solved it on excel what function is used.

Sambonoza Enterprises projects its sales next year to be $4 million and expects to earn 5 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions (projections): 1. Current assets will equal 20 percent of sales, and fixed assets will remain at their current level of $1 million. 2. Common equity is currently $0.8 milion, and the firm pays out half its after-tax earnings in dividends. 3. The firm has short-term payables and trade credit that normally equal 10 percent of sales, and it has no long-term debt outstanding. 4 What are Sambonoza's financing needs for the coming year? 6 DATA 7 Sales next year 8 Earnings after taxes/Sales 9 Current assets/Sales 10 Fixed assets 11 Common equi 12 Paid-out ratio 13 Shor-term payables and trade credit/Sales 14 15 SOLUTION 16 Earnings after taxes 17 Current assets 18 Dividends 19 Shor-term payables and trade credit 20 Total assets 21 Retained earnings 22 Total financing available 23 Financing n 24 $4,000,000 S1,000,000 $800,000 10%