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Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $22,000 Assets Costs 13,600 Net income $8,400 Total
Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $22,000 Assets Costs 13,600 Net income $8,400 Total Balance Sheet $10,800 Debt Equity $10,800 Total $5,700 5,100 $10,800 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 $8,674 $8,683 $8,697 $8,679 $19,584
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