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Consider the following simplified financial statements for the Wims Corporation (assuming no Income taxes): Income Statement Balance Sheet Sales $29,700 Assets $24,850 Debt $ 6,350
Consider the following simplified financial statements for the Wims Corporation (assuming no Income taxes): Income Statement Balance Sheet Sales $29,700 Assets $24,850 Debt $ 6,350 Costs 22,020 Equity 18,500 Net income $ 7,680 Total $24,850 Total $24,850 The company has predicted a sales increase of 10 percent. It has predicted that every item on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.) Assets Pro forma income statement Sales Costs Net income Pro forma balance sheet Debt Equity Total Total What is the plug variable? The plug variable is in the amount of
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