1. Ivan Industries, Inc (I³) had net income of $200,000 two years ago, $218,000 last year and $231,125 in the current fiscal year. I³ expects sales and net income to grow at this historical growth rate (annual growth rate over the last two years) indefinitely. Further, I³ expects current assets and current liabilities to vary directly with sales, but not any other assets, liabilities or owners equity. Also, in the last fiscal year I³ reported $150,000 in cash, $80,000 in accounts receivable, $120,000 inventory, $240,000 in long-term debt, $1,500,000 in total assets and has a quick ratio ((CA-inventory)/CL) of 0.95. Additionally, I³ expects to borrow an additional $150,000 to upgrade its corporate headquarters. I³ pays out 40% of its income in the form of dividends and expects to repurchase $40,000 in stock next year. What does I³ expect to report for net income and owners equity next year? What is I³s additional external financing needed next year?