Question

Use the following information to answer questions 1 - 3

Inhale, Inc. 2018 Income Statement
Net sales	$	18,400
Cost of goods sold		15,200
Depreciation		700
Earnings before I and T	$	2,500
Interest paid		70
Taxable Income	$	2,430
Taxes		960
Net income	$	1,470
Dividends	$	390

Inhale, Inc. 2018 Balance Sheet
	2018				2018
Cash	$	7,600		Accounts payable	$	6,840
Accounts rec.		2,200		Long-term debt		700
Inventory		8,200		Common stock	$	8,400
Total	$	18,000		Ret. Earnings		11,660
Net fixed assets		9,600
Total assets	$	27,600		Total liabilities & equity	$	27,600

Inhale, Inc., is currently operating at maximum capacity. All costs, assets, and current liabilities vary directly with sales. The tax rate and the dividend payout ratio will remain constant. In 2019, no new equity will be raised and sales are projected to increase by 10 percent. Construct the pro formas for 2019 (at first leave interest and long term debt unchanged). Then answer the following questions.

Projected total assets = $______

Projected 2013 Retained Earnings = $______

Additional new debt required = $______

Answer 1