Efn 15% and 20% is not correct. please use excel

The most recent financial statements for Crosby, Inc., follow. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt- equity ratio is held constant. CROSBY, INC. 2017 Income Statement Sales $765,000 Costs 621,000 Other expenses 30,000 Earnings before interest $ 114,000 and taxes Interest paid 14,800 Taxable income Taxes (22%) $ 99,200 21,824 Net Income $ 77,376 $35,940 Dividends Addition to retained earning 41,436 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,440 Accounts payable $ 62,200 Accounts receivable 34,880 Notes payable 18,200 Inventory 71,600 Total $ 80,400 Total $ 131,920 Long-term debt $ 113,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $ 108,000 Net plant and equipment $222.000 52,520 Total $ 160,520 Total assets $353,920 Total liabilities and owners equity $353,920 Sales IS Costs Other expenses EBIT Interest paid Taxable income Taxes (22%) Net income Dividends Add to RE 879,750 714,150 34,500 131,100 14,800 116,300 25,586 90,714 42,140 48,574 918,000 $ 745,200 36,000 136,800 14,800 122,000 $ 26,840 95,160 $ 44,206 50,954 1,109,250 900,450 43,500 165,300 14,800 150,500 33,110 117,390 54,532 62,858 $ $ $ Calculate the EFN for 15, 20 and 45 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. 15% (4,816) 20% 7,390 EFN 45% 68,416 IS $ The most recent financial statements for Crosby, Inc., follow. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt- equity ratio is held constant. CROSBY, INC. 2017 Income Statement Sales $765,000 Costs 621,000 Other expenses 30,000 Earnings before interest $ 114,000 and taxes Interest paid 14,800 Taxable income Taxes (22%) $ 99,200 21,824 Net Income $ 77,376 $35,940 Dividends Addition to retained earning 41,436 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,440 Accounts payable $ 62,200 Accounts receivable 34,880 Notes payable 18,200 Inventory 71,600 Total $ 80,400 Total $ 131,920 Long-term debt $ 113,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $ 108,000 Net plant and equipment $222.000 52,520 Total $ 160,520 Total assets $353,920 Total liabilities and owners equity $353,920 Sales IS Costs Other expenses EBIT Interest paid Taxable income Taxes (22%) Net income Dividends Add to RE 879,750 714,150 34,500 131,100 14,800 116,300 25,586 90,714 42,140 48,574 918,000 $ 745,200 36,000 136,800 14,800 122,000 $ 26,840 95,160 $ 44,206 50,954 1,109,250 900,450 43,500 165,300 14,800 150,500 33,110 117,390 54,532 62,858 $ $ $ Calculate the EFN for 15, 20 and 45 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. 15% (4,816) 20% 7,390 EFN 45% 68,416 IS $