Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION Income Statement
Sales					$	45,300
Costs						35,100
Taxable income					$	10,200
Taxes (25%)						2,550
Net income					$	7,650
Dividends	$	2,504
Addition to retained earnings		5,146

The balance sheet for the Heir Jordan Corporation follows.

HEIR JORDAN CORPORATION Balance Sheet
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	2,000		Accounts payable	$	2,400
Accounts receivable		4,600		Notes payable		4,400
Inventory		6,400		Total	$	6,800
Total	$	13,000		Long-term debt	$	25,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	14,000
Net plant and equipment	$	35,800		Retained earnings		3,000
				Total	$	17,000
Total assets	$	48,800		Total liabilities and owners equity	$	48,800

Prepare a pro forma balance sheet, assuming an increase in sales of 15 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