2 10 points The most recent financial statements for Crosby, Incorporated, appear below. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt-equity ratio is held constant. CROSBY, INCORPORATED 2021 Income Statement Skipped Sales $768,000 Costs 624,000 Other expenses 31,500 eBook Earnings before interest and taxes Interest expense Taxable income Hint Taxes (25%) Net income Print Dividends References Addition to retained earnings $34,140 38,235 $112,500 16,000 $ 96,500 24,125 $72,375 CROSBY, INCORPORATED Balance Sheet as of December 31, 2021 Assets Current assets Cash Accounts receivable Liabilities and Owners' Equity Current liabilities $25,740 Accounts payable $ 63,400 35,210 Notes payable 19,100 Inventory 71,870 Total $82.500 Total $132,820 Long-term debt $116,000 Owners' equity Fixed assets Net plant and equipment $225,000 Common stock and paid-in surplus Retained earnings $111,000 48.320 Total $159,320 Total assets $357,820 Total liabilities and owners' equity $357,820 Complete the pro forma income statements below (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.). 2 10 Total assets points Skipped Total $357,820 Total liabilities and owners' equity Complete the pro forma income statements below. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) $ 159,320 $357,820 Book Sales Costs Other expenses EBIT Interest expense Print Taxable income Taxes (25%) Net income References Dividends Add to RE Pro Forma Income Statement 10% Sales Growth 15% Sales Growth 40% Sales Growth Calculate the EFN for 10, 15 and 40 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) 10% 15% 40% EFN