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Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $20,000 Assets Costs 13,600 Net income $6,400 Total
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $20,000 Assets Costs 13,600 Net income $6,400 Total Balance Sheet $10,500 Debt Equity $10,500 Total $5,000 5,500 $10,500 The company has predicted a sales increase of 8 percent. It has predicted that every item on the balance sheet will increase by 8 percent as well. Create the pro forma statements and reconcile them. What is the plug variable here? Multiple Choice $6,454 O $16,072 O $6,450 $6,450 $6,459 $6,472
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