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Meltzer Electronics estimates that its total financing needs for the coming year will be $35.5 million. During the coming fiscal year, the firm’s required financing payments on its debt-and-equity financing will total $12.9 million. The firm’s financial manager estimates that operating cash flows for the coming year will total $33.7 million and that the following changes will occur in the accounts notes.,,Account Forecast Change,Gross fixed assets $8.9 million,Change in current assets +2.3 million,Change in accounts payable +1.3 million,Change in accrued liabilities +0.8 million,,a. Use equation 2.3 and the data provided to estimate Meltzer’s free cash flow in the coming year.,,b. How much of the free cash flow will the firm have available as a source of new internal financing in the coming year?,,c. How much external financing will Meltzer require during the coming year to meet its total forecast financing need?,

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