4-27 EFN and Internal Growth [LO2, 3] The most recent financial statements for Crosby, Incorporated, follow. 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. CROSBY, INCORPORATED 2020 Income Statement Sales $ 772,000 Costs 628,000 Other expenses 33,500 Earnings before interest and taxes $ 110,500 Interest paid 17,600 Taxable income $ 92,900 Taxes (24%) 22,296 Net income $ 70,604 Dividends $ 19,940 Addition to retained earnings 50,664 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Assets Liabilities and Owners Equity Current assets Current liabilities Cash $ 26,140 Accounts payable $ 65,000 Accounts receivable 35,650 Notes payable 20,300 Inventory 72,230 Total $ 85,300 Total $ 134,020 Long-term debt $ 120,000 Owners equity Fixed assets Common stock and paid-in surplus $ 115,000 Net plant and equipment $ 229,000 Retained earnings 42,720 Total $ 157,720 Total assets $ 363,020 Total liabilities and owners equity $ 363,020 Complete the pro forma income statements below. (Input all answers as positive values. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Calculate the EFN for 20, 25 and 30 percent growth rates. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. A negative answer should be indicated by a minus sign.)