Jewel Co has the following balance sheet for the most recent year (as of December 31). Assets: Current assets Fixed assets $ 600,000 400,000 Liabilities & Equity: Accounts payable Accruals Notes payable Total current liabilities $ 100,000 100,000 100.000 $ 300,000 Total assets Long-term debt Total equity Total Liabilities and Equity 300,000 400.000 $1.000.000 $1.000.000 During the most recent year, the company reported sales of $5 million, net income of $100,000, and dividends of $60,000. The company anticipates its sales will increase 20 percent in the next year and its dividend payout will remain at 60 percent. Assume the company is at full capacity, so its assets and spontaneous liabilities will increase proportionately with an increase in sales. The profit margin will remain the same between the two years. Assume the company uses the AFN formula and all additional funds needed (AFN) will come from issuing new long-term debt. Given its forecast, provide the following amounts 1) Required increase in assets 2) Increase in spontaneous liabilities ing: 31 Increase in retained earnings 4) How much long-term debt will the company have to issue in the next year? Number your 4 answers. (i.e W1, #2, #3, #4)