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Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Balance Sheet $39,400 Assets $29,200 Debt Costs 34,700
Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Balance Sheet $39,400 Assets $29,200 Debt Costs 34,700 Equity $ 9,400 19,800 Net income $4,700 Total $ 29,200 Total $ 29,200 The company has predicted a sales increase of 15 percent. Assume Wesney pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.) Pro forma income statement Pro forma balance sheet Sales $ 45,310 Assets $ 29,201 Debt $ 9,400 Costs 39,905 Equity 22,503 Net income $ 5,405 Total Assets $ 29,201 Total Debt and Equity $ 31,903
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