t year-end 2021, Wallace Landscaping's total assets, all of which are used in operations, were $2.31 million, and its accounts payable were $565,000. Sales, which in 2021 were 2.1 million, are expected to increase by 15% in 2022 . Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses o current liabilities other than accounts payable. Common stock amounted to $640,000 in 2021 , and retained earnings were $260,000. Wallace has arranged to sell $145,000 of ew common stock in 2022 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2022 . (Because the ebt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its net profit margin on sales is 8%, and 60% of earnings will be paid out a ividends. a. What was Wallace's total long-term debt in 2021 ? Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round your answer to the nearest dollar. $ What were Wallace's total liabilities in 2021 ? Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of $2 million should be entere as 2,000,000. Round your answer to the nearest dollar. $ b. How much new long-term debt financing will be needed in 2022? (Hint: AFN - New stock = New long-term debt.) Do not round intermediate calculations. Enter your answer in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round your answer to the nearest dollar. $