Garlington Technologies Inc.'s 2013 financial statements are shown below:

Balance Sheet as of December 31, 2013

Cash	$ 180,000		Accounts payable	$ 360,000
Receivables	360,000		Notes payable	156,000
Inventories	720,000		Line of credit	0
Total current assets	$1,260,000		Accruals	180,000
Fixed assets	1,440,000		Total current liabilities	$ 696,000
			Common stock	1,800,000
			Retained earnings	204,000
Total assets	$2,700,000		Total liabilities and equity	$2,700,000

Income Statement for December 31, 2013

Sales	$3,600,000
Operating costs	3,279,720
EBIT	$ 320,280
Interest	18,280
Pre-tax earnings	$ 302,000
Taxes (40%)	120,800
Net income	181,200
Dividends	$ 108,000

Suppose that in 2014 sales increase by 20% over 2013 sales and that 2014 dividends will increase to $208,000. Forecast the financial statements using the forecasted financial statement method. Assume the firm operated at full capacity in 2013. Use an interest rate of 13%, and assume that any new debt will be added at the end of the year (so 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 AFN will be in the of form of a line of credit. Round your answers to the nearest dollar. Do not round intermediate calculations.

Garlington Technologies Inc. Pro Forma Income Statement December 31, 2014
Sales		$ ________
Operating costs		$ ________
EBIT		$ ________
Interest		$ ________
Pre-tax earnings		$ ________
Taxes (40%)		$ ________
Net income		$ ________
Dividends:		$ ________
Addition to RE:		$ ________

Garlington Technologies Inc. Pro Forma Balance Statement December 31, 2014
Cash		$ ________
Receivables		$ ________
Inventories		$ ________
Total current assets		$ ________
Fixed assets		$ ________
Total assets		$ ________
Accounts payable		$ ________
Notes payable		$ ________
Accruals		$ ________
Total current liabilities		$ ________
Common stock		$ ________
Retained earnings		$ ________
Total liabilities and equity		$ ________