$ 130,000 Inventories 260,000 520,000 Total current assets $ 910,000 Morrissey Technologies Inc.: Balance Sheet as of December 31, 2021 Cash Receivables Accounts payable $ 260,000 130,000 41,000 $ 431,000 Accrued liabilities Notes payable Total current liabilities Long-term debt 55,000 Fixed assets 1,040,000 Common stock 1,300,000 Retained earnings 164,000 Total assets $1,950,000 Total liabilities and equity $1,950,000 Morrissey Technologies Inc.: Income Statement for December 31, 2021 Sales $2,600,000 Operating costs including depreciation 2,328,480 EBIT $ 271,520 Interest EBT Taxes (25%) Net income Per share data: Common stock price Earnings per share (EPS) 11,520 $ 260,000 65,000 $ 195,000 $33.00 $ 1.95 $ 1.17 Dividends per share (DPS) Suppose that in 2022, sales increase by 12% over 2021 sales. The firm currently has 100,000 shares outstanding. It expects to maintain its 2021 dividend payout ratio and believes that its assets should grow at the same rate as sales. The firm has no excess capacity. However, the firm would like to reduce its operating costs/sales ratio to 85.5% and increase its total liabilities-to-assets ratio to 35%. (It believes its liabilities-to-assets ratio currently is too low