The 2017 financial statements for Growth Industries are presented below INCOME STATEMENT, 2017 Sales Costs EBIT Interest expense Taxable income Taxes (at 35%) Net income 350,000 225,000 125,000 25,000 $ 100,000 35,000 $ 65,000 Dividends Addition to retained earnings $ 26,000 39,000 BALANCE SHEET, YEAR-END, 2017 AssetS Liabilities Current assets Current liabilities Cash Accounts receivable Inventories $4,000 9,000 27,000 $ 40,000 290,000 Accounts payable Total current liabilities $ 11,000 $ 11,000 250,000 Long-term debt Stockholders' equity Total current assets Net plant and equipment Common stock plus additional paid-in capital Retained earnings 15,000 54,000 $ 330,000 Total assets $ 330,000 Total liabilities and stockholders' equity Sales and costs are projected to grow at 20% a year for at least the next 4 years. Both current assets and accounts payable are