Please answer the following problem correctly. Thank you

Problem 9-5 Long-Term Financing Needed At year-end 2015, wallace Landscaping's total assets were $1.9 million and its accounts payable were $405,000. Sales, which in 2015 were $3.0 million, are expected to increase by 20% in 2016, Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $400,000 in 2015, and retained earnings were $350,000. Wallace has arranged to sell $110,000 of new common stock in 2016 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long- term debt at the end of 2016. Because the debt is added at the end o the year, there ill be no additional interest expense due to the new debt. ts net profit margin on sales is 1, and 55% of e nings e paid out as dividends. a. What was Wallace's total long-term debt in 2015? Round your answer to the nearest dollar What were Wallace's total liabilities in 2015? Round your answer to the nearest dollar b, How much new long-term debt financing will be needed in 2016? (Hint: AFN-New stock = New long-term debt.) Round your answer to the nearest dollar. Do not round intermediate calculations