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Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement Sales $36697 Costs $22980 Balance Sheet Assets $54079 Debt
Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes):
| Income Statement | |
| Sales | $36697 |
| Costs | $22980 |
| Balance Sheet | |||
| Assets | $54079 | Debt | $38765 |
| Equity | ? | ||
The company has predicted a sales increase of 9 percent. It has predicted that every item on the balance sheet will increase by 9 percent as well.
What is the pro forma net income?
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