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 Income Statements: (in thousands of dollars) 2020 Zeiber Forecast 2019 Sales Expenses (excluding depr. & amort.) EBITDA Depreciation and Amortization EBIT Net Interest Expense EBT Taxes (40%) Net Income Common dividends (regular dividends) Addition to retained earnings (DRE) 2019 $455,150 $386,878 $68,273 $14,565 $53,708 $11,880 $41,828 $16,731 $25,097 $12,554 $12,543 Common Size Income Statement Industry Composit 2019 Sales 100.00% Expenses (excluding depr. & amort.) 85.50% EBITDA 14.50% Depreciation and Amortization 3.00% EBIT 11.50% Net Interest Expense 1.20% EBT 10.30% Taxes (40%) 4.12% Net Income 6.18% Common dividends (regular dividends) 3.00% Addition to retained earnings (DRE) 3.18%