The following tables summarize the $2022$ income statement and end$-$year balance sheet of Drake's

Bowling Alleys. Drake's financial manager forecasts a $20\%$ increase in sales and costs in $2023.$ The

ratio of sales to average assets is expected to remain at $0\mathrm{.}50.$ Interest is forecasted at $4\%$ of debt at

the start of the year.

assets at the end of $2021$ were $$2,500,000.$

${?}^b$ Debt at the end of $2021$ was $$510,000.$

a$.$ What is the implied level of assets at the end of $2023?$

Note: Round your intermediate calculations to the nearest whole dollar amount. Enter your

answer in thousands.

b$.$ If the company pays out $50\%$ of net income as dividends, how much cash will Drake's need to

raise in the capital markets in $2023?$

Note: Round your intermediate calculations to the nearest whole dollar amount. Enter your

answer in thousands.

c$.$ If Drake's is unwilling to make an equity issue, what will be the debt ratio at the end of $2023?$

Note: Round your intermediate calculations to the nearest whole dollar amount. Round your

answer to $2$ decimal places.

a$.$ Implied level of assets

b$.$ Additional cash

c$.$ Debt ratio