For the next fiscal year, you forecast net income of $51,000 and ending assets of $503,600. Your firm's payout ratio is 9.9%. Your beginning stockholders' equity is $297,800 and your beginning total liabilities are $119,500. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,100. Assume your beginning debt is $105,000. What amount of equity and what amount of debt would you need to issue to cover the net new financing in order to keep your debt-equity ratio constant? The Tax Cuts and Jobs Act of 2017 temporarily allowed 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems. Question content area botto