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You are planning a new business. You project the following first-year income statement: Revenue COGS...

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You are planning a new business. You project the following first-year income statement: Revenue COGS Gross profit Other variable expenses Depreciation Other fixed expenses Net profit \begin{tabular}{|lr|} \hline$ & 2,000,000 \\ \hline$ & 1,000,000 \\ $ & 1,000,000 \\ \hline$ & 200,000 \\ $ & 50,000 \\ $ & 600,000 \\ $ & 150,000 \\ \hline \end{tabular} You project that you will need $200,000 in capital assets (leasehold improvements and equipment) to start the business. You will carry inventory, and you project that annual inventory turnover (Annual COGS / Average Inventory) will be 4.0. All sales will be on credit, and you project that Days Sales Outstanding will be 45.0. If you plan to cover 8 months of (other) fixed expenses, how much funding do you need to start this business (regardless of source of funding)

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