Lan & Chen Technologies: Income Statements for Year Ending December 31
(Thousands of Dollars)				2020	2019
Sales				$945,000	$900,000
Expenses excluding depreciation and amortization				812,700	774,000
EBITDA				$132,300	$126,000
Depreciation and amortization				33,100	31,500
EBIT				$99,200	$94,500
Interest Expense				10,470	8,600
EBT				$88,730	$85,900
Taxes (40%)				35,492	34,360
Net income				$53,238	$51,540
Common dividends				$43,300	$41,230
Addition to retained earnings				$9,938	$10,310

Lan & Chen Technologies: December 31 Balance Sheets
(Thousands of Dollars)
Assets				2020	2019
Cash and cash equivalents				$47,250	$45,000
Short-term investments				3,800	3,600
Accounts Receivable				283,500	270,000
Inventories				141,750	135,000
Total current assets				$476,300	$453,600
Net fixed assets				330,750	315,000
Total assets				$807,050	$768,600
Liabilities and equity
Accounts payable				$94,500	$90,000
Accruals				47,250	45,000
Notes payable				26,262	9,000
Total current liabilities				$168,012	$144,000
Long-term debt				94,500	90,000
Total liabilities				$262,512	$234,000
Common stock				444,600	444,600
Retained Earnings				99,938	90,000
Total common equity				$544,538	$534,600
Total liabilities and equity				$807,050	$768,600

1. Using the given financial statements, calculate AFN for the next year. Assume sales growth rate is 10%.
2. Using the given financial statements, calculate self-supporting growth rate for the next year. Assume sales growth rate is 10%.