The 2018 Balance Sheet for ABC Corporation is shown below:

Assets Liabilities

Cash $10,000 Accounts Payable $ 8,000

Accounts Receivable 20,000 Accruals 2,000

Inventory 40,000 Total Current Liabilities $10,000

Total Current Assets $70,000 Bonds $30,000

Net Fixed Assets $150,000 Total Liabilities $40,000

Owners Equity

Common Stock $100,000

Retained Earnings 80,000

Total Assets $220,000 Total Liabilities & Owners Equity $220,000

The firm is currently operating at 100% capacity with sales of $100,000. Management believes that next year sales will increase by 17% and is anticipating that the firms profit margin will remain at 15%. The dividend payout for next year will be 60%. In the year 2019 what will the firms additional funds needed be? (In answering this question you must prepare a pro forma balance sheet.) (40 points)