Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION Income Statement
Sales					$	48,800
Costs						34,800
Taxable income					$	14,000
Taxes (22%)						3,080
Net income					$	10,920
Dividends	$	2,517
Addition to retained earnings		8,403

The balance sheet for the Heir Jordan Corporation follows.

HEIR JORDAN CORPORATION Balance Sheet
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	2,650		Accounts payable	$	2,400
Accounts receivable		3,600		Notes payable		5,300
Inventory		9,000		Total	$	7,700
Total	$	15,250		Long-term debt	$	24,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	18,000
Net plant and equipment	$	38,400		Retained earnings		3,950
				Total	$	21,950
Total assets	$	53,650		Total liabilities and owners equity	$	53,650

Prepare a pro forma balance sheet, assuming an increase in sales of 12 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.)

Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION Income Statement
Sales					$	48,800
Costs						34,800
Taxable income					$	14,000
Taxes (22%)						3,080
Net income					$	10,920
Dividends	$	2,517
Addition to retained earnings		8,403

The balance sheet for the Heir Jordan Corporation follows.

HEIR JORDAN CORPORATION Balance Sheet
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	2,650		Accounts payable	$	2,400
Accounts receivable		3,600		Notes payable		5,300
Inventory		9,000		Total	$	7,700
Total	$	15,250		Long-term debt	$	24,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	18,000
Net plant and equipment	$	38,400		Retained earnings		3,950
				Total	$	21,950
Total assets	$	53,650		Total liabilities and owners equity	$	53,650

Prepare a pro forma balance sheet, assuming an increase in sales of 12 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.)