can someone help me understand how to calculate longterm debt and retain earnings.

4,6,7 Assignment Sewed Help Save & EN Subr Check my work The Longbranch Western Wear Company has the following financial statements, which are representative of the company's historical average Income Statement Sales Expenses Earnings before interest and taxes Interest Earnings before takes Taxes Earnings after taxes Dividends $250,000 193,400 $ 56,600 3,6ee $ 53,000 13,000 $ 40, eae $ 22,00 Assets Cash Accounts receivable Inventory Current assets Capital assets Balance Sheet Liabilities and Shareholders' Equity $10,000 Accounts payable $17.600 26,000 Accrued wages 2,800 29,000 Accrued taxes 14,600 $65,000 Current liabilities $35,000 86,000 Notes payable 5,600 Long-tere debt 23,000 Common stock 36,000 Retained earnings 48,400 $151,000 Total liabilities and equity $151,000 Total assets Longbranch is expecting a 25 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of capital assets, instead, it will be done through more efficient asset utilization in the existing stores. Of liabilities, only current liabilities vary directly with sales Prex 3 of 918 Next > 6,7 Assignment Help Save Longbranch is expecting a 25 percent increase in sales next year, and management is concerned about the company's need for external funds. The increase in sales is expected to be carried out without any expansion of capital assets, instead, it will be done through more efficient asset utilization in the existing stores. Of liabilities, only current liabilities vary directly with sales a. Using a percent-of-sales method, determine whether Longbranch Western Wear has external financing needs (input the amount as a positive value.) The firm has 15000 in surplus funds b. Prepare a pro forma balance sheet with any financing adjustment made to notes payable and excess, if any, shall reduce long term debt. (Input all answers as positive values. Be sure to list the assets and liabilities in order of their liquidity. Do not leave any empty spaces; input a 0 wherever it is required.) Balance Sheet Liabilities $ 22000 Current_assets Cash Accounts receivable Inventory 12500 32500 36250 Accounts payable Accrued wages Accrued taxes 3500 18250 $ $ 43750 0 Current assets Capital Assets 81250 85000 $ Current Habilities Notes payable Long-term debt v Common stock Retained eamings 36000 $ 167250 Total liabilities and equity Total assets