Pro forma. You are a financial analyst that has been hired to forecast the possible funding need for a company based on its financial information and future plans You know that the net property, plant, and equipment at the end of 2018 was $25,000K and it currently equals $30,000K. Long-term debt at the end of 2018 was $15,000K and it currently equals $17,000K You assumed that sales will decreased by 10 percent. Given the company's recent income statement, you constructed the pro forma below: Proforma Ratio assumptions (30000 x0.9) [A] [B] Net Income Statement, Fiscal Year End 2019 (in thousands of $) Sales 30000 Cost of Goods Sold 20000 Depreciation 3000 EBIT Interest Expense 1200 Pre-Tax Income Tax 870 Net Income 4930 27000 18000 3600 5400 1360 4040 PPE 2018 - 25,000 PPE 2019 - 30,000 LT DEBT 2018 = 15,000 LT DEBT 2019 = 17,000 7000 [C] 5800 606 ID 3434 In addition to the $1,200K dividend, it will also build a new plant that will require a capital expenditure of $900K and net working capital will decrease by $700K. What is the net funding nood for 2020 and how should the company use long term debt in response to the net funding need? Show your work as follows: 1. NFN - the formula 2. NFN - the values (no need to place K beside the values) 3. NEN -answer (no need to place K beside the values) 4. The firms should retire or issue X-amount of long term debt, or do nothing