Major Manuscripts, Inc. 2012 Income Statement Net sales $ 7,800 Cost of goods sold 6,865 Depreciation 210 Earnings before interest and taxes $ 725 Interest paid 31 Taxable Income $ 694 Taxes 284 Net income $ 410 Dividends $ 187 Major Manuscripts, Inc. 2012 Balance Sheet 2012 2012 Cash $ 2,400 Accounts payable $ 1,550 Accounts rec. 880 Long-term debt 300 Inventory 2,700 Common stock $ 3,100 Total $ 5,980 Retained earnings 4,430 Net fixed assets 3,400 Total assets $ 9,380 Total liabilities & equity $ 9,380
Question: Major Manuscripts, Inc., is currently operating at maximum capacity. All costs, assets, and current liabilities vary directly with sales. The tax rate and the dividend payout ratio will remain constant. In 2013, no new equity will be raised and sales are projected to increase by 10 percent. Construct the pro formas for 2013 and answer the following questions. Projected total assets= $______