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34 The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 percent. Interest expense will remain constant;
34 The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. DividendsAdditiontoretainedearnings$27,47556,265 In 2020 , the firm operated ot 80 percent of capacity. Construct the pro forma income statement and balance shees for the company. Assume that fored assets ore sold so that the company has a 100 percent asset ublizotion (Do not round intermediate calculations and round your answers to the nearest whole number, e.9., 32.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Assets } & Pro Forma Balance Sheet \\ \hline Current assets & Current liabitition \\ \hline Cash & Acoounts payable \\ \hline Acoounts recelvable & Notes payable \\ \hline Inventory & Total current liabilites \\ \hline Total current assets & Long-torm dobt \\ \hline & Owners equity \\ \hline Fixed assots & Commons stock and paid.lin surplus \\ \hline Not plant and equipment & Retained oamings \\ \hline & Total owner's equity \\ \hline Total assets & Total liabities and owners' equity \\ \hline \end{tabular}
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