Question: I just need help with part a and figuring out the total long-term debt in 2016. For A, I also tried $11,45,000, and it was

I just need help with part a and figuring out the total long-term debt in 2016. For A, I also tried $11,45,000, and it was wrong.

Long-Term Financing Needed the year, there will be no additional interest expense due to the new debt.) Its net profit margin on sales is 6%, and 50% of earnings will be paid out as dividends. a. What was Wallace's total long-term debt in 2016? Do not round intermediate calculations. Round your answer to the nearest dollar. $ What were Wallace's total liabilities in 2016? Do not round intermediate calculations. Round your answer to the nearest dollar. b. How much new long-term debt financing will be needed in 2017? (Hint: AFN - New stock = New long-term debt.) Do not round intermediate calculations. Round your answer to the nearest dollar. $

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