7. Problem 9-09 (Financing Deficit) Financing Deficit Garlington Technologies Inc.'s 2018 financial statements bre shown beiow: Balance Sheet as of December 31,2018 Suppose that in 2019 sales inerease by 15% over 201 saies and that 2019 dividends wili increase to 5146,000 . forecast the financial statements using the forecasted financial statement method. Assume the firm oporatod at fuit capacity in 2018. Use an anterest rate of 5%, and assume that amy new debt wit be abded at the end of the year (6o forecast the interest expense based on the debt balance at the beginning of the year). Cash does not earn any interest income. Assume that the ali new-debt will be in the form of a line of credit. Enter your answers as positive volues, Do not round intermediate calculations. Round your answers to the nearest doliar. Garlington Technologies Inc. Pro Forma Income Statement neramher 21 snio Garlington Technologies Inc. Pro Forma Balance Statement December 31. 2019 7. Problem 9-09 (Financing Deficit) Financing Deficit Garlington Technologies Inc.'s 2018 financial statements bre shown beiow: Balance Sheet as of December 31,2018 Suppose that in 2019 sales inerease by 15% over 201 saies and that 2019 dividends wili increase to 5146,000 . forecast the financial statements using the forecasted financial statement method. Assume the firm oporatod at fuit capacity in 2018. Use an anterest rate of 5%, and assume that amy new debt wit be abded at the end of the year (6o forecast the interest expense based on the debt balance at the beginning of the year). Cash does not earn any interest income. Assume that the ali new-debt will be in the form of a line of credit. Enter your answers as positive volues, Do not round intermediate calculations. Round your answers to the nearest doliar. Garlington Technologies Inc. Pro Forma Income Statement neramher 21 snio Garlington Technologies Inc. Pro Forma Balance Statement December 31. 2019