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 $$200,000$ per year for the next $5$ years, and it forecasts that the ratio of revenues to total assets will remain at $1\mathrm{.}50.$ Annual depreciation is $10\%$ of net fixed assets at the beginning of the year. Fixed costs are expected to remain at $$88,000$ and variable costs at $80\%$ of revenue. The company's policy is to pay out twothirds of net income as dividends and to maintain a book debt ratio of $20\%$ of total capital.

INCOME STATEMENT, $2022$

$($Figures in $ thousands$)$

Revenue

Fixed costs

Variable costs $(80\%$ of revenue$)$

Depreciation

Interest $(8\%$ of beginning$-$of$-$year debt$)$

Taxable income

Taxes $($at $40\%)$

Net income

Dividends

$$67$

Addition to retained earnings

$$34$

BALANCE SHEET, YEAR$-$END

$($Figures in $ thousands$)$

$2022$

Assets

Net working capital

Fixed assets

Total assets

Liabilities and shareholders' equity

Debt

Equity

Total liabilities and shareholders' equity

$\backslash$table$[[$$$400$