Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 47,600 Cost 35,600 Taxable income $ 12,000 Taxes (25%) 3,000 Net income $ 9,000 Dividends $ 2,505 Addition to retained earnings 6,495 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners Equity Current assets Current liabilities Cash $ 2,050 Accounts payable $ 2,400 Accounts receivable 4,700 Notes payable 4,500 Inventory 6,400 Total $ 6,900 Total $ 13,150 Long-term debt $ 25,000 Owners equity Fixed assets Common stock and paid-in surplus $ 15,000 Net plant and equipment $ 36,000 Retained earnings 2,250 Total $ 17,250 Total assets $ 49,150 Total liabilities and owners equity $ 49,150 Prepare a pro forma balance sheet, assuming an increase in sales of 13 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.) 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.)

Consider the following income statement for the Heir Jordan Corporation: The balance sheet for the Heir Jordan Corporation follows