Assume the company is operating at full capacity. The company pays out in dividends 60% of its net income and moves 40% of its net income into retained earnings. ASSETS 2020 2019 CASH AND MARKETABLE SECURITIES 29,000 25,000 ACCOUNTS RECEIVABLE 116,000 100,000 INVENTORIES 145,000 125,000 CURRENT ASSETS 290,000 250,000 GROSS PLANT AND EQUIPMENT 362,000 350,000 LESS: ACCUMULATED DEPRECIATION 130,000 100,000 NET FIXED ASSETS 232,000 250,000 TOTAL ASSETS 522,000, 500,000 LIABILITIES AND EQUITY ACCOUNTS PAYABLE 90,480 78,000 ACCRURALS 34,800 30,000 NOTES PAYABLE 25,420 34,000 CURRENT LAIBILITIES 150,700 142,000 LONG TERM DEBT 145,000 140,000 TOTAL LIABILITIES 295,700 282,000 COMMON STOCK $1.00 par) 150,000 150,000 RETAINED EARNINGS 76,300 68,000 TOTAL OWNER'S EQUITY 226,300 218,000 TOTAL LIABILITIES AND EQUITY 522,000 500,000 INCOME STATEMENT 2020 2019 NET REVENUES & SALES (100,000 UNITS) 812,000 700,000 COST OF GOODS SOLD 522,000 450,000 GROSS PROFIT 290,000 250,000 FIXED OPERATING EXPENSES (pre depreciation) 174,200 151,000 EBITDA Earnings before Intrest, Taxes, Dep & Amorit 115,800 99,000 DEPRECIATION EXPENSE 30,000 25,000 OPERATING INCOME (EBIT) 85,800 74,000 INTEREST 14,500 14,000 INCOME BEFORE TAXES (EBT) 71,300 60,000 INCOME TAXES (40%) 28,520 24,000 NET INCOME 42,780 36,000 div 34,480 28,500 Retained Earnings 8,300 7,500 NUMBER OF SHARES OUTSTANDING 50,000 50,000 If we expect sales to increase by 20% next year what should be the new level of net income? [Select] Based on a 20% increase in sales what should be the projected level of retained earnings on the balance sheet? [Select) Based on a 20% increase in sales what should be the projected level of Total Assets? I [ Select] Based on a 20% increase in sales compute the Additional Financing Needs for next year. Select]