At year$-$end $2019,$ total assets for Arrington Inc. were $$1\mathrm{.}7$ million and accounts payable were $$415,000.$ Sales, which in $2019$ were $$2\mathrm{.}50$ million, are expected to increase by $25\%$ in $2020.$ Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is$,$ they will grow at the same rate as sales. Arrington typically uses no current liabilities other than accounts payable. Common stock amounted to $$385,000$ in $2019,$ and retained earnings were $$235,000.$ Arrington plans to sell new common stock in the amount of $$165,000.$ The firm's profit margin on sales is $6\%$; $55\%$ of earnings will be retained.

What were Arrington's total liabilities in $2019?$ Write out your answer completely. For example, $25$ million should be entered as $25,000,000.$ Round your answer to the nearest cent.

$

How much new long$-$term debt financing will be needed in $2020?($Hint: AFN $-$ New stock $=$ New long$-$term debt.$)$ Write out your answer completely. For example, $25$ million should be entered as $25,000,000.$ Do not round intermediate calculations. Round your answer to the nearest cent.

$