The firm currently uses straight line depreciation so that depreciation expense in 2018 will be the same as in 2017. Depreciation expense in 2017 was $5,000. Sales are expected to grow by 30% in 2018. All net income is paid out in dividends and no new stock issues are planned. Notes payable at the end of 2017 will be paid off in 2018. Calculate total assets and additional funds needed for 2018. End of Year 2017 Cash Accounts Receivable Inventory $15,000 20,000 35,000 Fixed Assets, gross 75,000 Accumulated Depreciation 15,000 Fixed Assets, net 60,000 Accounts Payable $15,000 Notes Payable 25,000 Long-Term Debt 30,000 Common Equity 60,000