You work in the Finance Department for Ritter Inc. and you have been instructed to conduct financial planning for the next year to estimate the possible need for new funds based on the assumptions and accounting data below, Assumptions 7.00% Growth in Sales Tax Rate 0.15 Income Statement Balance Sheet Sales 110,000 Current Assets 5,500 Costs 77,000 Fixed Assets 78,000 EBIT 33,000 Total Assets 83,500 Interest 1,700 EBT 31,300 Current Liab 8,800 Taxes 4,695 Debt 34000 Net Income 26,605 Equity 40700 Total Liab & Eq 83500 Dividends 25,200 You are tn cime that once current accate Fivert accets and current liabilities will all varvac a narrant.nf.cales hacert on the current You are to assume that costs, current assets, fixed assets and current liabilities will all vary as a percent-of-sales based on the current figures. Assume that debt and interest expenses will remain constant. Also, assume the firm will not issue or retire any stocks and that dividends will remain at their current level. (Do not round intermediate calculations and round your answers to the single digits place, e.g. 13276) What is the estimate for sales next year? What is the estimate for net income next year? What is the estimate for the amount to add to retained earnings for next year? What is the estimate for total assets next year? What is the estimate for equity for next year? What is the estimate for the new funding required for next year?[ A positive number means the firm requires new funding and a negative value that the firm will generate excess cash based on these policies