End of year 2017

Cash $15,000

Accounts Receivable $20,000

Inventory $35,000

Fixed Assets, gross $75,000

Accumulated Depreciation $15,000

Fixed Assets, net $60,000

Accounts Payable $15,000

Notes Payable $25,000

Long-Term Debt $30,000

Common Equity $60,000

The firm currently uses straight line depreciation so that depreciation expense in 2017 will be the same as in 2018. Depreciation expense in 2017 was $5,000. Sales are expected to grow by 30% in 2018. All net income is paid out in dividends and no new stock issues are planned. Notes payable at the end of 2017 will be paid off in 2018.

Calculate projected total assets and additional funds needed for 2018.