HEIR JORDAN CORPORATION Income Statement $42,600 32,100 Sales Costs Taxable income Taxes (24%) $ 10,500 2,520 Net income $ 7,980 Dividends Addition to retained earnings $2,506 5,474 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,100 Accounts payable $ 2,400 Accounts receivable 4,800 Notes payable 4,600 Inventory 8,000 Total $ 7,000 Total $ 14,900 Long-term debt $22,000 Owners' equity Fixed assets Common stock and paid in surplus $ 16,000 Net plant and equipment $36,200 Retained earnings 6.100 Total $ 22,100 Total assets $ 51.100 Total liabilities and owners equity $ 51,100 Prepare a pro forma balance sheet, assuming an increase in sales of 10 percent, no new external debt or equity financing and a constant payout ratio. (Do not round intermediate calculations and round vour answers to 2 decimal places. e.a.. 32.16.) Prepare a pro forma balance sheet, assuming an increase in sales of 10 percent, no new external debt or equity financing, and a constant payout ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g.. 32.16.) Assets Current assets Cash Accounts receivable Inventory Total HEIR JORDAN CORPORATION Pro Forma Balance Sheet Liabilities and Owners' Equity Current liabilities Accounts payable ! Notes payable Total Long-term debt Owners' equity Common stock and paid in surplus Retained earnings Total Total liabilities and owners' equity Foxed assets Net plant and equipment Total assets Calculate the EFN. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e... 32.16.) EFN