typically uses no current liabilities other than accounts payable. Common stock amounted $315,000. Wallace has arranged to sell $110,000 of new common stock in 2020 to meet some the of debt.) Its net profit margin on sales is 4%, and 55% of earnings will be paid out as dividends. million should be entered as 2,000,000. Round your answer to the nearest dollar. $ What were Wallace's total liabilities in 2019? Do not round intermediate calculations. Enter your answer in dollars. For answer should be entered as 2,000,000. Round your answer to the nearest dollar. $ b. How much new long-term debt financing will be needed in 2020? (Hint: AFN - New stock = New long-term debt.) Do not round intermediate calculans. Enter your answer in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round your answer to the nearest dollar $