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Financing Deficit Garlington Technologies inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31,2018 Suppose that in 2019 sales increase by 20%

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Financing Deficit Garlington Technologies inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31,2018 Suppose that in 2019 sales increase by 20% over 2018 sales and that 2019 dividends will increase to $184,000. Forecast the financal statements using the forecasted financial statement method. Assume the firm operated at full capacity in 2018. Use an interest rate of 12%, and assume that any new debt will be added at the end of the year too forecast the interest expense based on the debt balance at the beginning of the year). Cash does not earn any interest income. Assume that the all new-debe wil be in the form of a line of credit. Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollas. Garlington Technologies Inc. Pro Forma Income Statement December 31. 2010 Garlington Technologies Inc. Pro Forma Balance Statement

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