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Complete the following pro forma financial statements. Use the forecasting assumptions in the far right-hand column. This Year Next Year Forecasting Assumption 100 50 Sales

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Complete the following pro forma financial statements. Use the forecasting assumptions in the far right-hand column. This Year Next Year Forecasting Assumption 100 50 Sales Variable Costs Fixed Costs Net Income Sales will grow 20% Constant % of sales Remains same 40 10 Dividends Current Assets Fixed Assets Total Assets 5 60 100 160 Keep 50% payout ratio Constant % of sales Remains same 20 Constant % of sales Current Liabilities Long-Term Debt Common Stock Retained Earnings Total Liabilities and Equity 20 20 100 Remains same Remains same 160 AFN =

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