The Strathman Corporation, a metal forming company, had the following year-end results:

For next year, Strathman is making the following planning assumptions:

  • Revenue growth: 7.5%
  • IBT Margin: 1 percentage point higher than current year (e.g., from 21 % to 22%)
  • Tax Rate: Unchanged
  • Dividends: Same dollar amount as current year
  • Current Assets: Increase 2% faster than the sales growth rate
  • Net Fixed Assets: $2.5 million net increase
  • Long-Term Debt: Repay $0.6 million
  • Repurchase $1.8 million in common shares (a reduction in Common Stock)
  1. What amount of Short-term Debt will be needed in Box 1
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