The below table summarizes the 2017 Income statement and end-year balance sheet of Drake's Bowling Alleys. Drake's financial manager forecasts a 15% increase in sales and costs in 2018. The ratio of sales to average assets is expected to remain at 0.50. Interest is forecasted at 3% of debt at the start of the year. Income Statement $1,800 assets)a Sales Costs Interest Pretax profit Tax Net income (50% of average 900 (50% of sales) 1 B 882 (34 of debt at start of year) 6 (20% of pretax profit) $ 706 a Assets at the end of 2016 were $3,500,0o0. Debt at the end of 2016 was $610,000. Balance Sheet $3,700 AssetS Debt Equity $3,150 550 Total $3,700 $3,700 a. What is the implied level of assets at the end of 2018? (Enter your answer In thousands.) Implied level of assets b. If the company pays out 50% of net income as dividends, how much cash will Drake need to raise in the capital markets in 2018? (Enter your answer in thousands.) Additional cash The below table summarizes the 2017 Income statement and end-year balance sheet of Drake's Bowling Alleys. Drake's financial manager forecasts a 15% increase in sales and costs in 2018. The ratio of sales to average assets is expected to remain at 0.50. Interest is forecasted at 3% of debt at the start of the year. Income Statement $1,800 assets)a Sales Costs Interest Pretax profit Tax Net income (50% of average 900 (50% of sales) 1 B 882 (34 of debt at start of year) 6 (20% of pretax profit) $ 706 a Assets at the end of 2016 were $3,500,0o0. Debt at the end of 2016 was $610,000. Balance Sheet $3,700 AssetS Debt Equity $3,150 550 Total $3,700 $3,700 a. What is the implied level of assets at the end of 2018? (Enter your answer In thousands.) Implied level of assets b. If the company pays out 50% of net income as dividends, how much cash will Drake need to raise in the capital markets in 2018? (Enter your answer in thousands.) Additional cash