Assuming costs vary with sales and a 20 percent increase in sales is projected,

1. create the pro forma income statement.

2. Create a pro forma Balance Sheet.

Curry Company Income Statement Year ended 2021 Income Statement \begin{tabular}{l|r} \hline Sales & $50,000 \\ \cline { 2 } Costs & 39,450 \\ \cline { 2 } Taxable Income & $10,550 \\ Taxes & $2,750 \\ \cline { 2 - 3 } Net Income & $7,800 \\ \hline \hline \end{tabular} Fixed Assets: \begin{tabular}{|l|r|} \hline Net Fixed Assets & $41,300 \\ \cline { 2 } TOTAL ASSETS & $55,700 \\ \hline \hline \end{tabular} Curry Company Income Statement Year ended 2021 Income Statement \begin{tabular}{l|r} \hline Sales & $50,000 \\ \cline { 2 } Costs & 39,450 \\ \cline { 2 } Taxable Income & $10,550 \\ Taxes & $2,750 \\ \cline { 2 - 3 } Net Income & $7,800 \\ \hline \hline \end{tabular} Fixed Assets: \begin{tabular}{|l|r|} \hline Net Fixed Assets & $41,300 \\ \cline { 2 } TOTAL ASSETS & $55,700 \\ \hline \hline \end{tabular}