I need help with part D$.$ The following tables contain financial statements for Dynastatics Corporation. Although the company has not been growing, it now plans to expand and will increase net fixed assets $($i$.$e$.,$ assets net of depreciation$)$ by $200,000$ per year for the next $5$years, and it forecasts that the ratio of revenues to total assets will remain at $1\mathrm{.}50.$ Annual depreciation is $10\%$ of net fixed assets at the beginning of the year. Fixed costs are expected to remain at $$72,000$ and variable costs at $80\%$ of revenue. The company's policy is to pay out tw$0-$thireds of net income as dividends and to maintain a book debt ratio of $20\%$ of total capital. Income Statement, $2022($figures in $ thousands$)$ Revenue $$1800,$ Fixed Costs $$72,$ Varaible costs $(80\%$ of revenue$)$ $$1440,$ Depreciation $$80,$ Interest $(8\%$ of beginning$-$of$-$year debt$)$ $$24,$ Taxable Income $$184,$ Taxes $($at $40\%)$ $$74,$ Net income $$110,$ Dividends $$73,$ Addition to retained earnings $$37.$ Balance Sheet, Year$-$End $2022($Figures in $ thousands$).$ Assets Net Working Captial $$400,$ Fixed assets $$800,$ Total Assets $$1200.$ Liabilities and shareholder's equity, debt $$300,$ Equity $$900,$ Total liabilities and shareholder's equity $$1200.$ a$1)$ Produce an income statement for $2023.$ Assume that net working captial will equal $50\%$ of fixed assets. a$2)$ Produce a balance sheet for $2023.$ Assume that net working capital will equal $50\%$ of fixed assets. b$)$ Now assume that the balancing item is debt and that no equity is to be issued. Prepare a completed pro forma balance sheet for $2023.$ c$)$ Assume that the balancing item is debt and that no equity is to be issued, what is the projected debt ratio for $2025?$ d$)$ Suppose that the cost of equity is $10\%$ and that at the end of $2025$ Dynastatics shares are expected to sell at $12$ times net income. What would be the value today of the firm's equity?