19.10 Percent of sales: Given the data for Cattail Corporation in Problem 19.9, if you assume that all balance sheet items also vary with the change in sales, develop a pro forma balance sheet for Cattail for the next fiscal year. Assuming that the firm did not sell or repurchase stock, what is the cash dividend implied by the pro forma income statement and balance sheet? Percent of sales: Cattail Corporation's financial statements for the fiscal year just ended are shown below Cattail Corporation Financial Statements for the Fiscal Year Just Ended Balance Sheet Assets $ 700,000 Balance Sheet S Income Statement Net Sales $ 1,500,000 Costs 350,000 Net Income $ 1,150.000 Debt Equity Total 600.000 100.000 700,000 Total $ 700,000 $ Cattail management expects sales to increase by 14 percent next year. Assume that the financial statement accounts vary directly with changes in sales and that management has no financing plan at this time. Given this information, develop a pro forma income statement for Cattail for the next fiscal year