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Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement $ Sales 38,800 Costs 33,120 Assets Balance Sheet $
Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement $ Sales 38,800 Costs 33,120 Assets Balance Sheet $ Debt 25,400 Equity $ 6,400 19,000 Net income $ 5,680 Total $ 25,400 Total $ 25,400 The company has predicted a sales increase of 12 percent. Assume the company 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 Assets Debt Costs Equity Total Debt and Equity Net income Total Assets intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Pro forma income statement Pro forma balance sheet Sales Assets Debt Costs Equity Total Debt and Equity Net income Total Assets What is the external financing needed? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) External financing needed
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