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Consider the following simplified financial statements for Burlington Corporation (assuming no income taxes): Statement of Comprehensive Income Sales $32,000 Costs $24,400 Net Income $7600 Statement
Consider the following simplified financial statements for Burlington Corporation (assuming no income taxes): Statement of Comprehensive Income Sales $32,000 Costs $24,400 Net Income $7600 Statement of Financial Position Assets $25,300 Debt $5,800 Equity $19,500 Total $25,300 Total $25,300 Burlington Inc. has predicted a sales increase of 15 percent. It has predicted that every item on the statement of financial position will increase by 15 percent as well. Create the Pro forma statements and reconcile them. What is the plug variable here?
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