Herington Tours! 266 KB Click to see additional instructions Challenge Hint: During week #2, we discussed the "Percentage of Sales method of financial planning which has certain default assumptions. Recall that not all problems are associated with those default assumptions. You must read the question/problem carefully to determine EXACTLY what assumptions you should be making to construct your proforma information Consider the PDF attachment above containing the most recent financial statements for Hopington Tours Inc. Your manager has asked you to prepare proforma statements with the following assumptions: Sales for 2013 are projected to grow by 30% interest dollar experise will remain constant. The tax rate will remain constant, but the dividend payout rate will increase to 25% of net income. Costs, other expenses, current assets, and accounts payable are expected to vary directly with sales, but all other debt and equity do not vary with sales. Assume that the firm is operating its fixed assets at full capacity. Calculate the following (IMPORTANT: Do NOT use commas in your response. Express your final answer with no decimals. (e.g. 91234 Projected EBIT 5 Projected Net Income $ Projected Addition to Retained Earnings Projected increase to Total Assets s