Do whichever from (1) and (2), but do it correctly and perfectly.

You have available the Income Statement for 2018 and the Balance Sheet as of the fiscal year end 2018 for Anthony & Co.i all dollar amounts are in thousands Note that: Anthony's long-term debt is being reduced at the rate of $20 per year; -Anthony's has no plans to expand its property -Anthony's 2019 sales are forecast to be $5,000 and, -Anthony's tax rate is 20% $4,000 3,000 $1,000 800 Sales Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Net Income Before Taxes Provision for Taxes Net Income $ 160 $ 80 400 600 1,080 200 $1280 Cash Accounts Receivable Inventory Current Assets Property Total Assets Notes Payable, Bank Accounts Payable Long-Term Debt, Current Current Liabilities Total Liabilities Total Liabilities 240 360 20 620 160 $780 500 Long-Term Debt Net Worth & Net Worth 1. Use the percent of sales approach to estimate the amount of external financing Anthony & Co. will need by year-end 2019 2. Use the cash cycle approach to estimate the amount of external funding Anthony & Co. will need by year-end 2019