Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement Sales Costs Balance Sheet $ 20,500 $ 6,500 14,000 $46,500 38,780 Assets Debt Equity $ 7,720 Net income Total $ 20,500 Total $20,500 The company has predicted a sales increase of 14 percent. Assume Yoo pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Pro forma income statement Pro forma balance sheet 53,010 Sales 23,370 Assets $ Debt 44209.20 Costs Equity Net income 8800.80 Total 23370 Total $ What is the external financing needed? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) External financing needed eBook & Resources eBook: 4.2. Financial Planning Models: A First Look eBook: 4.4. External Financing and Growth Check my work