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Over the Rainbow, Inc. is planning for the next year. Using the most recent balance sheet for 2018 given below, and the additional information provided,

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Over the Rainbow, Inc. is planning for the next year. Using the most recent balance sheet for 2018 given below, and the additional information provided, prepare the company's 2019 pro forma balance sheet to calculate the projected Additional Funds Needed. Round all answers to the nearest dollar (whole number without decimals). Determine the projected 2019 Additional Funds Needed using the balance sheet) and provide the answer in whole dollars (no decimal places). Important Information: a. Sales growth is projected to be 15% in 2019. b. Depreciation expense for 2019 will be $60. C. A new fixed asset costing $320 will be purchased in 2019. d. No new stock will be issued. e. Notes payable will remain the same. f. The company will borrow an additional $50 (long-term debt) in 2019 9. The Addition to Retained Earnings from the 2019 projected income statement is $131 Over the Rainbow, Inc. Balance Sheet As of December 31, 2018 [in thousands] Assets Current Assets: Cash & Marketable Securities $845 Accounts Receivable 360 Inventory 525 Total Current Assets $1,730 Property, Plant & Equipment 360 Less: Accumulated Depreciation 80 Net Property, Plant & Equipment 280 Total Assets $2,010 Liabilities & Owner's Equity Current Liabilities: Accounts Payable 350 Notes Payable 160 Accruals 185 Total Current Liabilities $695 Long-term Liabilities 265 Total Liabilities $960 Owner's Equity: Preferred Stock 156 Common Stock, par value 125 Additional Paid-in Capital 354 Retained Earnings 415 Total Owner's Equity 1,050 Total Liabilities & Owner's Equity $2,010 s

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