This firm is projecting financials and the table below is from the right side of the balance sheet. In the projections, based on sales growth of 20%, A/P, Note Payable, and Long-Term Debt all grow by 20%. Net Income will be $20,000, the tax rate is 25%, and the payout ratio is 10%. Given this information, how much is the projected New Total Liabilities & Owners Equity? (Answer in whole dollars, no cents.)

Old Liabilities & Owners Equity New Liabilities & Owners Equity

A/P 2,500 A/P _____

Note Payable 2,000 Note Payable _____

Long-Term Debt 3,000 Long-Term Debt _____

Retained Earnings 5,000 Retained Earnings _____

Old Total Liab. & Equity 12,500 New Total Liab. & Equity $_____

How much is the new net income, if sales increase by 30%, COGS are 60% of Sales, SG&A increases by 10%, interest expense remains the same, and the tax rate does not change? (Answer in whole dollars, no cents.)

Old Income Statement New Income Statement

Sales 50,000 Sales _____

COGS 30,000 COGS _____

SG&A 10,000 SG&A _____

EBIT 10,000 EBIT _____

Interest Exp 5,000 Interest Exp _____

EBT 5,000 EBT _____

Taxes 2,000 Taxes _____

Old Net Income $3,000 New Net Income _____