Zieber Corporation's 2019 financial statements are shown below. Forecast Zeiber's 2020 income statement and balance sheets. Use the following assumptions: (1) Sales grow by 8%. (2) Depreciation& amortization, and fixed assets grow by 7%. (3) Operating Expenses, cash, accounts receivable, inventories, accounts payable and accruals increase at the same rate as sales in 2020. (4) Zeiber will not issue any new stock or new long-term bonds. (5) If new financing is required, assume it will be raised as long term debt. (6) The interest rate is 5% for short-term debt and 10% for long-term debt. (7) No interest is earned on cash. (8) Dividends grow at an 6% rate. (9) Calculate the additional funds needed (AFN). Assume that any new long term debt will be borrowed on the last day of 2020, so there will be no additional interest expense for the new long term debt. December 31 Balance Sheets (in thousands of dollars) Common Size Balance Sheet Industry Composit 2019 Zeiber 2019 2020 2020 2019 Without AFN With AFN Assets: Cash Accounts Receivable Inventories Total current assets Fixed assets Total assets $18,206 $100,133 $45,515 $163,854 $182,060 $345,914 Assets: Cash Accounts Receivable Inventories Total current assets Fixed assets Total assets 1.80% 14.00% 26.30% 42.10% 57.90% 100.00% Liabilities and equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained Earnings Total common equity Total liabilities and equity $31,861 $27,309 $0 $59, 170 $120,000 $179,170 $60,000 $106,745 $166,745 $345,914 Liabilities and equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained Earnings Total common equity Total liabilities and equity 7.00% 12.30% 0.00% 19.30% 25.40% 44.70% 25.00% 30.30% 55.30% 100.00% AFN=