Actual 2016 and Pro Forma 2017 (5 millions) Income Statement Balance Sheet Net sales Cost of goods sold Other expenses Depreciation expense EBIT Interest expense Earnings before tax Tax Net income 2016 $ 47,610 40.718 5,171 1,000 727 2017 $ 52,378 44,790 5,688 1,100 Bee 215 585 176 $ 489 2016 $ 951 5,666 4/236 4,048 14.901 215 Cash & securities Accounts receivable Inventories Net fixed assets Total assets Bank loan (short-term) Accounts payable Long-term debt Total liabilities Shareholders' equity Total liabilities & equity 512 154 359 $ $ 392 7.419 2.148 9,959 4.942 5.24,902 102 Dividends paid Add to retained earnings 90 269 $ the above financial statements, Royal Corporation has prepared (incomplete) pro forma financial statements 2017 based on tual financial statements for 2016. Royal Corp, used the percent-of-sales method, assuming a sales growth rate of 10% for 2017 capital expenditures are planned to be $1,615 in 2017, then what would be the appropriate projection for net fixed assets in 172 0 12:06 PM 6/23/2021 21