At year$-$end $2015,$ Wallace Landscaping$$s total assets were $$1\mathrm{.}7$ million and its accounts payable were $$415,000.$ Sales, which in $2015$ were $$2\mathrm{.}6$ million, are expected to increase by $30\%$ in $2016.$ Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $$475,000$ in $2015,$ and retained earnings were $$325,000.$ Wallace has arranged to sell $$105,000$ of new common stock in $2016$ to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long$-$term debt at the end of $2016.($Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.$)$ Its net profit margin on sales is $7\%,$ and $55\%$ of earnings will be paid out as dividends.

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.