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Consider the following simplified financial statements for the Wims Corporation (assuming no Income taxes): Income Statement Sales $21,000 Assets Costs 13,000 Net Income $8,000 Total
Consider the following simplified financial statements for the Wims Corporation (assuming no Income taxes): Income Statement Sales $21,000 Assets Costs 13,000 Net Income $8,000 Total Balance Sheet $9,600 Debt Equity $9,600 Total $4,600 5,000 $9,600 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. Create the pro forma statements and reconcile them. What is the plug variable here? Multiple Choice $8,252 $8,256 $8,247 $8.270 $17,056
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