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I am really stuck, especially on Plant and Equipment. Please help! The most recent financial statements for Crosby, Incorporated, follow. Sales for 2022 are projected
I am really stuck, especially on Plant and Equipment. Please help!
The most recent financial statements for Crosby, Incorporated, follow. Sales for 2022 are projected to grow by 20 percent. 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. In 2021, the firm operated at 80 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that fixed assets are sold so that the company has a 100 percent asset utilization. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Answer is complete and correctStep by Step Solution
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