2017 Statement of Comprehensive Income Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (40%) Net income Dividends $32,400 Addition to retained earnings 48,600 $762,000 597,000 18,000 $147,000 12,000 $135,000 54,000 $ 81,000 Assets Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 27,200 Accounts payable 42,600 Notes payable 88,800 Total $ 158,600 Long-term debt Owners' equity Common stock and paid-in surplus $ 230,000 Retained earnings Total $ 69,900 18,900 $ 88,800 $121,000 Fixed assets Net plant and equipment $131,000 47,800 $178,800 Assets Current assets Cash Accounts receivable Inventory Total $ HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners' Equity Current liabilities $ Accounts payable Notes payable $ Total $ Long-term debt Owners' equity Common stock and paid in surplus $ Retained earnings Total Fixed assets Net plant and equipment Total assets Total liabilities and owners' equity Calculate the EFN for 20% growth rates. 205 EFN $