The table given below summarizes the $2022$ income statement and end$-$year balance sheet of Drake$$s Bowling Alleys. Drake$$s financial manager forecasts a $10\%$ increase in sales and costs in $2023.$ The ratio of sales to average assets is expected to remain at $0\mathrm{.}40.$ Interest is forecasted at $5\%$ of debt at the start of the year.

Income Statement

$ in thousands

Sales $ $1,600(40\%$ of average assets$)$aFootnote a

Costs $1,200(75\%$ of sales$)$

Interest $55(5\%$ of debt at start of year$)$bFootnote b

Pretax profit $345$

Tax $138(40\%$ of pretax profit$)$

Net income $ $207$

aFootnote aAssets at the end of $2021$ were $$3,840,000.$

bFootnote bDebt at the end of $2021$ was $$1,100,000.$

Balance Sheet

$ in thousands

Net assets $ $4,160$ Debt $ $1,100$

Equity $3,060$

Total $ $4,160$ Total $ $4,160$

What is the implied level of assets at the end of $2023?$

Note: Enter your answer in dollars not in thousands.

If the company pays out $50\%$ of net income as dividends, how much cash will Drake need to raise in the capital markets in $2023?$ Assumes debt remains constant.

Note: Do not round intermediate calculations. Enter your answer in dollars not in thousands.

If Drake is unwilling to make an equity issue, what will be the debt ratio at the end of $2023?$

Note: Enter your answer as a percent rounded to nearest whole number.