A pro forma Income Statement for Monroe Products Co. is displayed below:Monroe Products Company.Income Statements, 2019 and Pro Forma 2020Years Ended December 31st2019 Actual2020 ForecastNet Sales$1,000,000$1,250,000Cost of Goods Sold800,0001,000,000Gross Profit$200,000$250,000Operating Expenses100,000125,000Depreciation Expense50,00062,500Operating Income (EBIT)$50,000$62,500Interest Expense10,00012,500Taxable Income$40,000$50,000Income Tax Expense15,00018,750Net Income$25,000$31,250Use the information given to construct the Pro Forma Balance Sheet for 2020.a) Sales growth is projected to be 25% in 2020, and Current Assets is expected to grow with Sales.What should Current Assets be in 2020?b) Monroe Products plans to purchase $100,000 of fixed assets in 2020, but will not dispose of any existing fixed assets.What should be its forecast for ending Net Fixed Assets in 2020?c) If Monroe Products pays out 40% of its Net Income in 2020 (payout ratio) and will neither sell nor repurchase equity during the year, what should its forecast for owner's equity be at the end of 2020?d) Given all the above information, What is Monroe Products' projected external funding required for 2020?