ats are shown here 9-9 Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are Balance Sheet as of December 31, 2018 Cash 5 360.000 156506 Receivables Inventories Total current assets 180,000 $ 180,000 Accounts payable 360,000 Notes payable 720,000 Line of credit $1,260,000 Accruals 1,440,000 Total current liabilities Common stock Retained earnings $2,700,000 Total liabilities and equity Fixed assets $ 696,000 1,800,000 204,000 Total assets $2,700,000 Income Statement for December 31, 2018 Sales Operating costs EBIT $3,600,000 3,279,720 $ 320,280 18,280 $ 302,000 Interest Pre-tax earnings Taxes (40%) 120,800 Net income Dividends $ 181,200 $ 108,000 Suppose that in 20 dividends will incre that in 2019 sales increase by 10% over 2018 sales and that 2019 de will increase to $112,000. Forecast the financial statements using recasted financial statement method. Assume the firm operated at full city in 2018. Use an interest rate of 13%, and assume that any new debt ll be added at the end of the year (so forecast the interest expense based the debt balance at the beginning of the year). Cash does not earn any interest income. Assume that the all-new debt will be in the form of a line of credit