Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $46,200 38,200 Sales Costs $ 8,000 2,000 Taxable income Taxes (25%) 6,000 Net income $2,513 Dividends Addition to retained 3,487 earnings The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance She Liabilities and Owners' Equity Assets Current assets Cash Accounts receivable Current liabilities Accounts payable Notes payable $ 4,000 8,400 2,450 4,000 Total 12,400 Inventory 9,000 $ 15,450 $ 21,000 Total Long-term debt Owners' equity Common stock and paid-in surplus $14,000 Fixed assets Net plant and $37,600 Retained earnings 5,650 equipment $19,650 Total Total liabilities and owners' $53,050 equity $53,050 Total assets Prepare a pro forma balance sheet, assuming an increase in sales of 11 percent, no new external debt or equity financing, and a constant payout ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Prepare a pro forma balance sheet, assuming an increase in sales of 11 percent, no new external debt or equity financing, and a constant payout ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Pro Forma Bal ance Sheet Liabilities and Owners' Equity Assets Current assets Current liabilities Accounts payable Cash Notes payable Accounts rec eivable Inventory Total Total Long-term debt Owners' equity Common stock and paid-in surplus Fixed assets Net plant and equipment Retained earnings Total Total liabilities and owners' equity Total assets Calculate the EFN. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) EFN