The below table summarizes the 2017 income statement and end-year balance sheet of Drake's Bowling Alleys. Drake's financial manager forecasts a 15% increase in sales and costs in 2018. The ratio of sales to average assets is expected to remain at 0.50. Interest is forecasted at 3% of debt at the start of the year Income Statement (50% of average assets) (3% of debt at start of year) Sales Costs Interest $1,500 750 (50% of sales) 17 733 $ 586 Pretax profit Tax Net income 147 (20% of pretax profit) Assets at the end of 2016 wer $2,900,0oo Debt at the end of 2016 was $550,000 Balance Sheet Debt $1,750 1,350 $3,100 $3,100 Assets Equity $3,100 Total a. What is the implied level of assets at the end of 2018? (Enter your answer in thousands.) Implied level of assets b. If the company pays out 50% of net income as dividends, how much cash will Drake need to raise in the capital markets in 2018? (Enter your answer in thousands.) Additional cash c. If Drake is unwilling to make an equity issue, what will be the debt ratio at the end of 2018? (Round your answer to 2 decimal places.) Debt ratio