The following tables summarize the 2022 income statement and end-year balance sheet of Drake's Bowling Alleys. Drake's financial manager forecasts a 10% increase in sales and costs in 2023 . The ratio of sales to average assets is expected to remain at 0.40. Interest is forecasted at 5% of debt at the start of the year. Assets at the end of 2021 were $2,400,000. Debt at the end of 2021 was $500,000. a. What is the implied level of assets at the end of 2023 ? Note: 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: 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 answer to 2 decimal places