Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $45,000 35,000 Sales Costs $10,000 Taxable income Taxes (22%) 2,200 $ 7,800 Net income $ 2,501 Dividends Addition to retained 5,299 earnings The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Liabilities and Owners' Equity Assets Current assets Current liabilities $ 2,400 4,100 $3,050 4,300 Accounts payable Notes payable Cash Accounts receivable Total 6,500 Inventory 6,400 Total 13,750 $28,000 Long-term debt Owners' equity Common stock and paid-in surplus $ 11,000 Fixed assets Net plant and equipment $35,200 Retained earnings 3,450 $14,450 Total Total liabilities and owners' $48,950 equity $48,950 Total assetS Prepare a pro forma balance sheet, assuming an increase in sales of 10 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 Balance Sheet Liabilities and Owners' Equity Assets Current liabilities Current assets Accounts payable Cash Notes payable Accounts receivable Inventory Total Total Long-term debt Owners' equity Common stock and paid-in surplus Fixed assets Retained earnings Net plant and equipment Total Total assets Total liabilities and owners' equity