Glad it helps. I learned this the LONG way, and thankfully it didn't cost a lot as I got lucky.
12% of the total weight is the standard tongue weight that most travel trailers usually try to achieve when towing. Obviously it can take a bit of time and effort to achieve that with proper loading of the trailer, amount of water loaded on the trailer, placement of propane tank, and the weight distribution hitch. So you could more or less, and you'll need to plan accordingly.
If that new trailer is 5,500 pounds ready for camping (some water, food, gear), you'll be about 700 pounds on the tongue, + 100 pounds for weight distribution hitch, +100 pounds for propane and battery, leaving you around 700 pounds for passengers...Pack carefully, plan ahead, and it looks as though it should work.
Please keep in mind that I am only estimating those weights.