You've been provided the following information for Universal Products. The firm is planning to invest $600,000 in capital assets in 2018. The firm will not sell or acquire any additional assets. The firm's projected retention ratio is 80%. Calculate the firm's projected equity value in 2018. Forecast 2018 3,750 Universal Products Co. Financial Statements, 2017 and Pro Forma 2018 ($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 Operating expense 500 Total assets 4,500 Depreciation 250 300 expense Herest expense 50 80 Current habilities 1,050 Famings before tax 200 Long term debit 500 Tax 70 Owners' equity 2,950 700 1,575 420 800 147 Net income 130 273 Total kablities & equity 4,500