Sambonoza Enterprises projects its sales next year to be ​$7 million and expects to earn 4 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs and has made the following assumptions​ (projections): a. Current assets will equal 19 percent of​ sales, and fixed assets will remain at their current level of ​$1 million.
b. Common equity is currently ​$.70 ​million, and the firm pays out half of its​ after-tax earnings in dividends.
c. The firm has​ short-term payables and trade credit that normally equal 10 percent of​ sales, and it has no​ long-term debt outstanding.

Required:
What are​ Sambonoza's financing needs for the coming​ year?​