Determine the amount of additional financing needed for Year 2 under the followine conviliens: Consider the following financial statements for Industrial Supply Company. (Actual) December 31, Balance sheet Assets Cash Accounts receivable Inventories Total current assets Fixed assets, net: Total assets (A) Liabilities and Equity Accounts payable (CL) Notes payable Total current liabilities Long-term debt Stockholders' equity Total liabilities and equity Year 1 Comments $550,00025% increase (assumption) 2,400,00025% increase (assumption) 3,750,00025% increase (assumption) $6,700,000 $1,300,000 No increase (assumption) $1,500,00025% increase (assumption) 1,200,000 $2,700,000 500,000 No change (assumption) 4,800,000 $8,000,000