The following tables contain financial statements for Dynastatics Corporation. Although the company has not been growing, it now

plans to expand and will increase net fixed assets $($i$.$e$.,$ assets net of depreciation$)$ by $$200,000$ per year for the next $4$ years, and it

the year. Fixed costs are expected to remain at $$78,000$ and variable costs at $70\%$ of rev half of net income as dividends and to maintain a book debt ratio of $20\%$ of total capital.

Required:

a$1.$ Produce an income statement for $2023.$ Assume that net working capital will equal $50\%$ of fixed assets.

a$2.$ Produce a balance sheet for $2023.$ Assume that net working capital will equal $50\%$ of fixed assets

b$.$ Now assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheet for

c$.$ Assume that the balancing item is debt and that no equity is to be issued, what is the projected debt ratio for $2025?$

d$.$ Suppose that the cost of equity is $10\%$ and that at the end of $2025$ Dynastatics shares are expected to sell at $12$ times net income.

What would be the value today of the firm's equity?

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Note: Input all amounts as positive values. Enter your answers in thousands. Round intermediate calculations and finat