Start with the partial model in the file Ch$09$ P$10$ Build a Model.xlsx on the textbook$$s Web site, which contains the $2021$ financial statements of Zieber Corporation. Forecast Zeiber's $2022$ income statement and balance sheets. Use the following assumptions: $(1)$ Sales grow by $6\%.(2)$ The ratios of expenses to sales, depreciation to fixed assets, cash to sales, accounts receivable to sales, and inventories to sales will be the same in $2022$ as in $2021.(3)$ Zeiber will not issue any new stock or new long$-$term bonds. $(4)$ The interest rate is $11\%$ for long$-$term debt and the interest expense on long$-$term debt is based on the average balance during the year. $(5)$ No interest is earned on cash. $(6)$ Regular dividends grow at an $8\%$ rate. $(7)$ The tax rate is $25\%.$ Calculate the additional funds needed $($AFN$).$ If new financing is required, assume it will be raised by drawing on a line of credit with an interest rate of $12\%.$ Assume that any draw on the line of credit will be made on the last day of the year, so there will be no additional interest expense for the new line of credit. If surplus funds are available, pay a special dividend. What are the forecasted levels of the line of credit and special dividends?

equired line of credit

pecial dividends

Note: we copied values from $H99$:$H100)$ when sales growth in $G51=6\%.$

Now assume that the growth in sales is only $3\%($do this by changing the growth rate in Cell G$51).$ What are the

orecasted levels of line of credit and special dividends?

Note: we copied values from $H99$:$H100)$ when sales growth in $G51=3\%.$

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ch$12\_$p$25\_$build$\_$a model

Gardial Fisheries is considering two mutually exclusive investments. The projects' expected net cash flows are as follows:

$\backslash$table$[[,,],[$Expected Net Cash Flows,,$],[,$Project A$,$Project B$],[0,($$$375),($$$575)$