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Complete the following pro forma financial statements for XYZ Corporation. Use the percent-of-sales method and use long-term debt as the plug figure (balancing item). Assume

Complete the following pro forma financial statements for XYZ Corporation. Use the percent-of-sales method and use long-term debt as the plug figure (balancing item). Assume the following: 20% sales growth, capital expenditures of 200 in 2015, no equity issues or repurchases in 2015, no sale or disposal of fixed assets in 2015, and a 50% dividend payout ratio. Round figures to the nearest whole dollar. Income statement 2014- Sales $1000, COGS 700, Operating Expense 100, Depreciation Expense 100, EBIT 100, Interest Expense 25, Pre tax income 75, Tax 25, Net income 50. 2015- Depreciating Expense 130, Interest Expense 20 Balance Sheet 2014- Current Assets $300, Net fixed assets 500, Total Assets 800, Current liabilities 400, long term debt 200, equity 200, Total liabilities and equity $800. 2015-0 Please show work when anwsering.

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