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Use the financial statements for The Company to answer the questions that follow. The Company Income Statement and Balance Sheet Year t+1 Year t 7.400,051 7,069,736 7.045 359 6,749 700 320,036 190,669 45,681 83,686 23,948 59,738 354,692 193,558 Pre-tax Income Net Income Cash and Securities 49,243 69,229 292,062 328,060 603,545 546,940 1386,097 1412320 2,281,704 2,287,320 1,058,789 1,049,505 681,543 671,996 4,022,036 4,008,821 Flxed assets Goodwill & Intangibles Total Assets 671,996 Short-term borrowings Accounts 126,745 415,350 520,581 226,370 417,376 Current liabilities Long-term debt Common stock Retained earnings 1,062,676 1,099,445 794,322 608,712 1,481,593 1,482,444 1,482,444 683.445 2.165,038 2,200,664 Liabilities and Equity Price (in dollars) Shares $14.7 69.481 Prepare pro forma financial statements for The Company. The pro forma me statement and balance sheet) will be for the year ending Year t+1, based on the Year t historic financial statements. Use the percent of sales method based on Year t figures, and make the following assumptions: I. Assume a sales increase of 5%. 2. Taxes are 29% 3. Capital expenditures in Year t+ 1 are forecast to be $190,605 4. The depreciation rate is 15% 5. Dividends are zero in Year t+1. 6. Long-term debt is the plug variable. 7. The following accounts are the same in Year t+1 as in Year t: Goodwill & Intangibles, Common Stock 34 What is the interest expense in Year t+1? A) $35,007 B) $41,417 C $42,662 D) $45,681 E) $48,025 interest eperse +tt What is Net Income in Year t+1? A) $68,332 B) $70,442 C) $71,934 D) $73,852 E) $77,109 35 36 What are total assets in Year t+1? A) $4,106,784 B) $4,123,187 C) *$4,127,776 D) $4,298,762 E) $4,329,346 How much more must The Company borrow in Year t+1 than in Year t in order to finance the 5% increase in sales? A) $85,542 B) $96,861 C) $98,191 D) $103,243 E $126,370 37