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(the second picture might not be useful)

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6. Consider the 2021 projected actual financial statements for BTM CO. BTM Co. plans a 30% growth in output and sales in 2022. The firm is currently operating it assets at full capacity. It plans to increase its dividend payout rate to 30% in 2022. It also plans to fund the planned growth in such a way as not to alter its existing debt ratio and to issue new equity to the extent required. Based upon this information, complete the 2022 pro-forma. the information provided, complete the pro forma for 2022 in the space below. 2021 Actual 2022 Pro Forma Increment Sales Expenses EBIT Interest NIBT Tax 25% NIAT 1,500 1,000 500 20 480 120 360 Dividends 72 Assets 2,000 Debt Contributed capital Retained earnings Equity Capital 400 200 1,400 1,600 2,000 BVC Co. Balance Sheet As of 12/31/20 BVC Co. Income Statement For the year ended 12/31/20 Cash Accounts receivable Inventory Current assets Accounts payable Revolving credit facility Current liabilities Working capital Net fixed assets Total assets 100 165 123 388 123 75 198 190 800 990 Sales Cost of goods sold Gross profit Operating expense Depreciation Total op exps EBIT Interest NIBT Income tax NIAT 4,000 3,000 1,000 700 100 800 200 50 150 50 100 400 Debt Equity Total capital 600 1,000

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