TV Corp	2021	2022	TV Corp	2021	2022
Cash equivalents	$3,931	$3,421	Total Revenues	45,041	48,813
Account Receivables	6,967	7,822	Cost of Sales	-25,034	-26,420
Inventories	1,487	1,574	Selling & Admin expenses	-8,365	-8,565
Prepaid expenses	1724	2,359	Depreciation expense	-2,406	-2,428
Total Current Assets	$14,109	$15,176	Interest Expense	-304	-31
Net Property Plant	30,012	31,353	Interest income	0	23
Brands, royalty, trademarks & patents	7,370	7,434	Other non-operating income	688	854
Intangible assets	29,750	30,223	Income before taxes	9,620	12,246
Total Assets	81,241	84,186	Income taxes	-2,984	-4,242
			Net income	6,636	8,004
Notes payables	3,389	3,533
Account payables and accruals	6,803	7,595
Unearned revenues	1,512	2,164
Total current liabilities	11,704	13,292
Long-term debt	12,776	12,676
Other long-term debt	8,611	8,611
Common stock par value + paid in	33,440	33,440
Retained earnings	46,571	48,028
Treasury stock	-34,582	-34,582
Non-controlling interests	2,721	2,721
Total Equity	48,150	49,607
Total liabilities + Total Equity	81,241	84,186

Suppose in 2023, Disneys Total Revenues is expected to grow at 10% as travels become more popular, using the Additional Fund Needed (AFN) formula calculate the projected Disney AFN to support its 10% growth using its status quo in 2022. And then, given your projected AFN, suppose that Disney decides to fund all its projected AFN by issuing new Long-Term Debt, calculate the projected Total Liabilities-to-Total Asset ratio for Disney in 2023 and explain the change in its future expected financial leverage

(please show in excel format)