Financing Deficit Garlington Technologies Inc.'s 2021 financial statements are shown below: Income Statement for December 31, 2021 Sales Operating costs EBIT Interest Pre-tax earnings Taxes (25%) 170,000 Net income $10,000 Dividends $ 190,000 Balance Sheet as of December 31, 2021 Cash Receivables Inventories Total CA Fixed assets Total Assets $4,000,000 3,200,000 $ 800,000 120,000 $ 680,000 $ 160,000 Accounts payable 360,000 Line of credit 720,000 Accruals Total Cl $1,240,000 4,000,000 $5,240,000 Long-term bonds Common stock $360,000 0 200,000 $ 560,000 1,000,000 1,100,000 2,580,000 $5,240,000 RE Total L&E Suppose that in 2022 sales increase to $4.6 million and that 2022 dividends will increase to $140,000. Forecast the financial statements using the forecasted financial statement method. Assume the firm operated at full capacity in 2021. The long-term bonds have an interest rate of 13%. New financing will be with a line of credit. Assume it will be added at the end of the year. Cash does not earn any interest income. Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollar. Garlington Technologies Inc. Pro Forma Income Statement December 31, 2022 Sales Operating costs EBIT Interest Pre-tax earnings Taxes (25%) Net income Dividends: Addition to RE: Cash Receivables Inventories Total current assets Fixed assets Total assets Accounts payable Line of credit Accruals Total current liabilities $ LT bonds Common stock Retained earnings Total L&E $ Garlington Technologies Inc. Pro Forma Balance Statement December 31, 2022 $ $ $ $ $ $ $ $ $ $ $ $ $