Universal Products Company has almost nished its pro forma nancial statements for 2022, as shown next.

Universal Products Company
Financial Statements, 2021 and Pro Forma 2022 ($ thousands)
INCOME STATEMENT
	Actual	Forecast
	2021	2022
Sales	$ 6,300	$ 6,700
Cost of goods sold	5,000	4,900
Operating expense	600	600
Depreciation expense	250	260
Interest expense	90	100
Earnings before tax	360	840
Tax	126	294
Net income	$ 234	$ 546

Universal Products Company
Financial Statements, 2021 and Pro Forma 2022 ($ thousands)
BALANCE SHEET
	Actual	Forecast
	2021	2022
Current assets	$ 3,400	$ 3,650
Net xed assets	3,000
Total assets	$ 6,400
Current liabilities	$ 1,110	$ 1,230
Long-term debt	700	500
Owners equity	4,590
Total liabilities & equity	$ 6,400

Assume that Universal plans to purchase $600,000 in xed assets during 2022 and to dispose of no xed assets during 2022. What would be its forecast for net xed assets in 2022?

Assume that Universal plans to have a dividend payout ratio of 50 percent in 2022 and will neither sell nor repurchase equity during 2022. What would be its forecast for owners equity in 2022?

Given the assumptions in questions (a) and (b), what is Universals projected external funding required for 2022?

Answer is complete but not entirely correct. \begin{tabular}{|l|r|} \hline Net fixed assets in 2022 & 3,350 \\ \hline Owner's equity in 2022 & 4,863 \\ \hline External funding required for 2022 & 407 \\ \hline \end{tabular}