You've been provided the following information for Universal Products. . The firm is planning to invest $600,000 in capital assets in 2018. The firm will not sell or acquire any additional assets. The firm's projected retention ratio is 80%. Calculate the firm's projected external funding required in 2018. Universal Products Co. Financial Statements, 2017 and Pro Forma 2018 ($thousands) NCOME STATEMENT BALANCE SHEET Actual Forecast Actual 2017 2018 2017 Sales 5,000 7,500 Current assets 2,500 Cost of goods sold 4,000 6,000 Net fixed assets 2,000 Forecast 2018 3,750 500 700 Total assets 4500 Operating expense Depreciation expense Interest expense 250 300 50 80 1,050 1,575 Current habilities Long term dett Famings before tax 200 420 500 800 Tax 70 147 Omers' equity 2,950 Net income 130 273 Total abilities & equity 4,500