Walters, Inc. had sales of $1,200,000 and a net income of $90,000 in 2018. Sales are expected to increase by 10% in 2019 (from the 2018 sales level). The firm expects that the net profit margin will be the same next year (2019) as in 2018. Walters plans to pay 30% of next year's net income as dividends in 2019. All current asset accounts and all spontaneous current liability accounts are assumed to increase proportionally to the increase in sales. Net fixed assets are assumed to increase by $20,000 next year. The long-term debt account is expected to decrease by $30,000 as the debt is amortized, and Walters does not plan to issue or repurchase stock. Walters, Inc. had the following balance sheet at the end of 2018:

Assets		Liabilities and Shareholders' Equity
Cash	$125,000	Accounts Payable	$150,000
Accounts Receivable	$250,000	Notes Payable	$160,000
Inventory	$300,000	Long-Term Debt	$250,000
Net Fixed Assets	$240,000	Shareholders' Equity	$355,000
Total Assets	$915,000	Liab. & Sh. Equity	$915,000

Prepare a proforma balance sheet for 2019 using the balance sheet format from 2018 (above). Assume that any additional funds needed will be raised as notes payable, and any excess funds will be kept in the cash account.