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 2022, no equity issues or repurchases in 2022, no sale or disposal of fixed assets in 2022, no changes in the tax rate, and a 50% dividend payout ratio. Round figures to the nearest whole dollar.

XYZ Corporation Financial Statements
Actual 2021 and Pro Forma 2022
Income Statement			Balance Sheet
	2021	2022		2021	2022
Sales	$ 1,000		Current assets	$ 300
Cost of goods sold	700		Net fixed assets	500
Operating expense	100		Total assets	800
Depreciation expense	100	130
EBIT	100		Current liabilities	400
Interest expense	25	20	Long-term debt	200
Pre-tax income	75		Equity	200
Tax	25		Total liabilities & equity	$ 800
Net income	$ 50