Assignment 16- Financial Planning and Forecasting Due on Aug 16 at 11 PM CDT Bohemian Manufacturing Company Balance Sheet For the Year Ended on December 31 Assets Liabilities Current Assets: Current Liabilities: Cash and equivalents Accounts receivable Inventories 150,000 Accounts payable 400,000 Accrued liabilities 350,000 Notes payable $250,000 150,000 100,000 $500,000 1,000,000 $1,500,000 Total Current Assets $900,000 Total Current Liabilities Net Fixed Assets: Long-Term Bonds Net plant and equipment (cost minus depreciation) $2,100,000 Total Debt Common Equity 800,000 700,000 $1,500,000 $3,000,000 Common stock Retained earnings Total Common Equity Total Liabilities and Equity Total Assets $3,000,000 The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Bohemian Manufacturing Company generated $400,000 net income on sales of $14,500,000. The firm expects sales to increase by 15% this coming year and also expects to maintain its long-run dividend payout ratio of 45%