homas Corporation forecast its total assets to increase to R1.4 million in 2008. Net earnings are forecasted to be R169,100 and the company plans to keep with its policy of paying dividends equal to 35% of its earnings. To help fund the increase in assets, accounts payable are expected to increase by R35,000, accruals will increase by R2,500 and the firm's line of credit will increase by R150,000. To fund the expansion, the firm expects to require external financing of R27,000. Using the above information, what was the value of the firm's total assets in 2007?