Austin Logo Inc. owns and operates a small chain of sportswear stores located near colleges and universities. Austin has experienced significant growth in recent years. The following data are available for Austin:
Austin Logo Inc.
Consolidated Income Statements
(In thousands)

Austin Logo Inc.
Consolidated Balance Sheets
(In thousands)

Required:
1. Calculate how much Austin's sales, net income, and assets have grown during these 3 years.
2. Explain how Austin has financed the increase in assets.
3. Discuss whether Austin's liquidity is adequate.
4. Explain why interest expense is growing.
5. If Austin's sales grow by 25% in 2020, what would you expect net income to be?
6. If Austin's assets must grow by 25% to support the 25% sales increase and if 50% of net income is paid in dividends, how much capital must Austin raise in 2020?