4 The most recent financial statements for Hopington Tours Inc. follow. Sales for 2018 are projected to grow by 25%. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2017 Statement of Comprehensive Income Sales $760,000 Costs 560,000 Other expenses 15,000 Earnings before interest and taxes $185,000 Interest paid 12,000 Taxable income $173,000 Taxes (405) 69,200 Net income $103,800 Dividends $31,140 Addition to retained earnings 72,660 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,400 Accounts payable Accounts receivable 40,800 Notes payable Inventory 87,000 Total Total $153,200 Long-term debt Owners' equity Fixed assets Common stock and paid-in surplus Net plant and equipment $332,400 Retained earnings Total Total assets $485,600 Total liabilities and owners' equity $ 68,100 17,100 $ 85,200 $159,000 $141,000 100, 400 $241,400 $485,600 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) HOPINGTON TOURS INC. Pro Forna statement of Comprehensive Income 25 Sales Growth Sales Costs other expenses $ Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) HOPINGTON TOURS INC. Pro Torma Statement of Comprehensive Income 25 # Sales Growth Sales $ Costs Other expenses EDIT Interest Taxable income $ Taxes (408) Net income $ Dividends $ Add. to RE $ Complete the pro forma statement of financial position below. Assets Current assets Cash Accounts receivable Inventory Total S $ HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners' Equity Current liabilities $ Accounts payable 5 Notes payable $ Total $ Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ Fixed assets Net plant and equipment $ $ $ Total assets Calculate the EFN for 25% growth rates. 258 $