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Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Costs $ 33,600 27,800 Net income $5,800 Total
Consider the following simplified financial statements for the Wesney Corporation (assuming no income taxes): Income Statement Sales Costs $ 33,600 27,800 Net income $5,800 Total Assets Sales Costs Net income Pro forma income statement $ The plug variable is $ Balance Sheet Debt Equity 24,350 The company has predicted a sales increase of 20 percent. It has predicted that every item on the balance sheet will increase by 20 percent as well. Assets 24,350 Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) 40,320 33,360 6,960 Total Assets Total in the amount of $ $ 6,850 17,500 $ $ 24,350 What is the plug variable? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) $ Pro forma balance sheet 29,220 Debt Equity 29,220 Total Debt and Equity 3,460 $ $ 8,220 21,000 29,220
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