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Financing Deficit Garlington Technologies Inc.'s 2021 financial statements are shown below: Income Statement for December 31, 2021 Balance Sheet as of December 31, 2021 Suppose
Financing Deficit Garlington Technologies Inc.'s 2021 financial statements are shown below: Income Statement for December 31, 2021 Balance Sheet as of December 31, 2021 Suppose that in 2022 sales increase to $4.8 million and that 2022 dividends will increase to $214,000. Forecast the financial statements using the forecasted financial statement method. Assume the firm operated at full capacity in 2021 . The long-term bonds have an interest rate of 11%. New financing will be with a line of credit. Assume it will be added at the end of the year. Cash does not earn any interest income. Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollar. Garlington Technologies Inc. Pro Forma Income Statement December 31, 2022 Sales Operating costs EBIT Interest Pre-tax earnings Addition to RE: \begin{tabular}{c} $ \\ $ \\ \hline$ \\ $ \\ \hline$ \\ \hline$ \\ \hline \hline \\ \hline \end{tabular} Garlington Technologies Inc
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