1. 9. Percentage-of-Sales Models. Here are the abbreviated financial statements for Planners Peanuts: Income Statement, 2019 Sales $2,000 Costs 1,500 Net income S 500 Balance Sheet, Year-End 2018 2019 2018 2019 Assets $2,500 $3,000 Debt S 833 $1,000 Equity 1,667 2,000 Total $2,500 $3,000 Total $2,500 $3,000 1. hide If sales increase by 20% in 2020, and the company uses a strict percentage-of-sales planning model (meaning that all items on the income and balance sheet also increase by 20%), what must be the balancing item? What will be its value? (LO2) W

Percentage-of-Sales Models, Here are the abbreviated financial statements for Planuers Peanuts: 1. hide iacrease by 20% ), what mus be the balatiag ifen? What will be ifs salue? (t.02)