2) For the following problems, use Exhibit A. For exhibit A, the amount of sales depends on the production volume shown below. The dividend policy is to pay 28% in dividends.

a. Imagine that the corporation decides to use debt for any external financing, what would be the amount of debt in 2020? (If no net new financing is needed, then answer with a negative number)

NOTE: Provide your answers in dollars. E.G. for 100M you must enter 100000000.0000, for 20M you must enter 20000000.000, etc.\

(I finished all the calculation all I need is the answer to a)

integrated funancial statement Exhibit A: Pro Forma Financial statement income statement 2019 2020 2021 2022 2023 2024 $ $ $ $ Sales revenue less cost of goods sold EBITDA less depreciation expense EBIT less interesr and other expanses PRE-TAX INCOME less income tax Net income $ $ 45,000.00 -36,900.00 8,100.00 -4,500.00 3,600.00 -800 2,800.00 -1120.00 1,680.00 57,834.00 -47,423.88 10,410.12 -5,783.40 4,626.72 -800 3,826.72 -1530.69 2,296.03 72,266.67 -59,258.67 13,008.00 -7,226.67 5,781.33 -800 4,981.33 -1992.53 2,988.80 88,442.55 -72,522.89 15,919.66 -8,844.26 7,075.40 -800 6,275.40 -2510.16 3,765.24 106,573.14 -87,389.97 19,183.16 -10,657.31 8,525.85 -800 7,725.85 -3090.34 4,635.51 126,811.38 -103,985.33 22,826.05 -12,681.14 10,144.91 -800 9,344.91 -3737.96 5,606.95 $ $ $ $ Production Volume (000s units) market size market share pproduction volum (market size X market share average price 10,000 10% 1000 45 10,500 12% 1260 45.9 11,025 14% 1543.5 46.82 11,576.25 16% 1852.2 47.75 12,155.06 18% 2187.9108 48.71 12,762.82 20% 2552.564 49.68 $ balance sheet 2019 2020 2021 2022 2023 2024 Assets cash and equiptment accounts receivable inventory CURRENT ASSETS property plant and equipment Total assets $ $ $ $ $ $ 7,200.00 6,300.00 7,650.00 21,150.00 29,700.00 50,850.00 9253.44 11562.67 8096.76 10117.33 9831.78 12285.33 27181.98 33965.33 38170.44 47696.002 65352.42 81661.34 14150.81 12381.96 15035.23 41568.00 58372.083 99940.08 17051.70 14920.24 18117.43 50089.37 70338.26914 120427.64 20289.82 17753.59 21557.93 59601.35 83695.51048 143296.86 libilitie and equity accounts payable CURRENT LIBILITIE long term debt TOTAL LIBILITIE stocksholders equity retain eaarnings $ $ $ $ $ $ 10,350.00 10,350.00 8,000.00 18,350.00 32,500.00 13301.82 13301.82 8,000.00 21301.82 32,500.00 1653.14 16621.334 16621.334 8,000.00 24621.334 44,050.60 2151.94 20341.7865 20341.7865 8,000.00 28341.7865 57,040.00 2710.97 24511.82107 24511.82107 8,000.00 32511.82107 71,598.30 3337.57 29166.61729 29166.61729 8,000.00 37166.61729 87,915.82 4037.00 total equity $ 32,500.00 34,153.14 46,202.54 59,750.98 74,935.86 91,952.82 total libilities and equity $ 50,850.00 55,454.96 70,823.87 88,092.76 107,447.68 129,119.44