ating EFN 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 $745,000 Costs 580,000 other expenses 16,00 Earnings before interest and taxes $149,000 Interest paid 12,000 Taxable income $137,000 Taxes (40%) 54,800 Net income $ 82,200 Dividends $21,920 Addition to retained earnings 68,280 Assets Current assets Cash Accounts receivable HOPINGTON TOURS INC Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 25,500 Accounts payable 40,900 Notes payable 87.100 Total 5 68,200 17,209 $ 85,400 Tnventory Cash Accounts receivable Inventory Total $ 25,500 40,980 87,100 $153,500 $ 68,280 17,200 $ 85,400 $128, eee Accounts payable 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 $312,400 $142,000 110,500 $252.5ae $465,900 Total assets $465,900 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit S sign in your response.) HOPINGTON TOURS INC. Pro Forna Statenent of Comprehensive Income 25 X Sales Growth Sales 5 Costs Other expenses EBIT $ Interest Taxable income $ Taxes (48%) Net income 5 Dividends $ Net Income Dividends Add to RE Complete the pro forma statement of financial position below. HOPINGTON TOURS INC Pro Forma Statement of Financial Position Assets Liabilities and Owners' Equity Current assets Current liabilities Cash 5 Accounts payable Accounts receivable $ Notes payable Inventory $ Total Total $ Long-term debt Owners' equity Fixed assets Connon stock and payd in surplus Retained earnings Net plant and equipment Total Total assets $ Total liabilities and owners' equity $ $ 15 $ $ Calculate the EFN for 25% growth rates. 25 $ EFN