The following is the financial statement of Executive Fruit Company for the year ended December 2014.

INCOME STATEMENT, 2014
(Figures in $ Thousands)
Revenue	$	4,000
Cost of goods sold		3,600
EBIT	$	400
Interest		80
Earnings before taxes	$	320
State and federal tax		128
Net income	$	192
Dividends		128
Additions to retained earnings	$	64

BALANCE SHEET (Year-End, 2014)
(Figures in $ Thousands)
Assets
Net working capital	$	400
Fixed assets		1,600
Total assets	$	2,000
Liabilities and shareholders' equity
Long-term debt	$	800
Shareholders' equity		1,200
Total liabilities and shareholders' equity	$	2,000

The following are the first stage and second stage pro forma financial statements of Executive Fruit Companyfor the year ended December 2015.

First stage pro forma statements:

PRO FORMA INCOME STATEMENT, 2015
(Figures in $ Thousands)
Revenue	$	4,400
Cost of goods sold		3,960
EBIT	$	440
Interest		80
Earnings before taxes	$	360
State and federal tax		144
Net income	$	216
Dividends		144
Additions to retained earnings	$	72

PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital	$	440
Fixed assets		1,760
Total assets	$	2,200
Liabilities and shareholders' equity
Long-term debt	$	800
Shareholders' equity		1,272
Total liabilities and shareholders' equity	$	2,072
Required external financing	$	128

Second stage pro forma balance sheet:

PRO FORMA BALANCE SHEET (Year-End, 2015)
(Figures in $ Thousands)
Assets
Net working capital	$	440
Fixed assets		1,760
Total assets	$	2,200
Liabilities and shareholders' equity
Long-term debt	$	928
Shareholders' equity		1,272
Total liabilities and shareholders' equity	$	2,200

How would Executive Fruits financial model change if the dividend payout ratio were cut to 1/3? Use the revised model to generate a new financial plan for 2015 assuming that debt is the balancing item. What would be the required external financing?(Do not round intermediate calculations.)

Dividends fall by $?????????. Therefore, the requirement for external financing falls from $???????to $???????. On the other hand, shareholders' equity will be increased by $????????.

The right-hand side of the balance sheet becomes(Do not round intermediate calculations. Enter your answers in thousands.):

Long-term debt	$????
Shareholders' equity	$ ?????
Total	$?????