Can someone please walk through this in Excel? ABC Inc. is constructing its pro forma financial statements for this year. At year end, assets were $650,000 and accounts payable (the only current liabilities account) were $175,000. Last years sales were $825,000. ABC expects to grow by 12 percent this year. Assets and accounts payable are expected to grow proportionally to sales. Common stock currently equals $175,000, and retained earnings are $127,000. ABC plans to sell $18,000 of new common stock this year. The firms profit margin on sales is 5.5 percent, and 45 percent of earnings will be paid out as dividends. How much new long-term debt financing will ABC need this year to finance its expected growth? ABC is currently operating at full capacity.