At vear-ead 2021. Waltace landscoping's total assets, all of which are used in operations, were $2.41 million; and its accounts payable were 5305,000 . Sales, which in. 2021 were $2,7 milion, are expected to increase by 35% in 2022 . Totol assets and nceounts payable ere proportional to sales, and that relationship will be maintained. Wallacan typically ises 130 current liabalities other than accounts payabie Common stock ampunted to $595,000 in 2021 , and retalned earnings werre $315,000, Walloce has arranged to sell 570,000 of new oammon stock in 2022 to meet some of its financing neods. The remainder of its financing needs will be met. by iscuing new lang-term debt at the end of 2022. (Bocaure the debt is added at the cnd of the yeac, there will be no additional interest expense due to the new: debt.) Its feet proft margin on walis is 496 , arde 35% of earnings will be paid out as dividends. a. What was Waloce's total long-term debt in 20217Do not ipund intermediote calculations. Enter your answer in dollars.-For example, an answor of $2. mation whould be eritered as 2,000,000. Round your answer to the noorest dollar. 5 should be entered as 2,000,000. Pound your answer to the nearest dollar. 5 b. How much new long term debt financing will be noeded in 2022? (Hinti AFN - New stock- New long-terms debt.) Do not round intermediate chlculations. Enter your answer in doliars, for example; an answer of $2 millon should be entered as 2,000,000. Reaind vour answer to the nearest dadar