(f.) Did D'Leon finance its expansion program with internally generated funds (additions to retained earnings plus depreciation) or with external capital? How does the choice of financing affect the company's financial strength? Table 1: Balance Sheet 2018 (USD) 2017 (USD) Assets Cash 7,282 57,600 Account Receivables 632,160 351,200 Inventories 1,287,360 715,200 Total Current Assets 1,926,802 1.124,000 Gross fixed assets 1,202,950 491,000 Less accumulated depreciation 263,160 146200 Net fixed assets 939,790 344,800 Total assets 2,866,592 1,468,800 Liabilities and Equity Accounts payable 524,160 145,600 Notes payable 636,808 200,000 Accruals 489,600 136,600 Total current liabilities 1,650,568 481,600 Long-term debt 723,432 323,432