Major Manuscripts, Inc. 2012 Income Statement
Net sales	$	7,800
Cost of goods sold		6,865
Depreciation		210
Earnings before interest and taxes	$	725
Interest paid		31
Taxable Income	$	694
Taxes		284
Net income	$	410
Dividends	$	187

Major Manuscripts, Inc. 2012 Balance Sheet
	2012				2012
Cash	$	2,400		Accounts payable	$	1,550
Accounts rec.		880		Long-term debt		300
Inventory		2,700		Common stock	$	3,100
Total	$	5,980		Retained earnings		4,430
Net fixed assets		3,400
Total assets	$	9,380		Total liabilities & equity	$	9,380

Major Manuscripts, Inc., is currently operating at maximum capacity. All costs, assets, and current liabilities vary directly with sales. The tax rate and the dividend payout ratio will remain constant. In 2013, no new equity will be raised and sales are projected to increase by 10 percent. Construct the pro formas for 2013 and answer the following questions (show your work!). Projected total assets= $______ Projected retained earnings= $______ Additional new debt required= $______