I am wondering if you can assist me in completing a proforma statement/balance sheet for the following question -

Using the following financial statements, create a pro-forma income statement and balance sheet. Assume a growth rate of 15% and that the tax rate and dividend payout remain constant. Costs, assets, and accounts payable vary with sales, but the others do not, and the company is operating at 100% capacity.

A) What is the proforma value for retained earnings?

B) What is the external financing needed?

C) Based on proforma values, calculate the internal growth rate. The internal growth rate is __________, which is the amount of growth the Hoffman Company can achieve _________.

D) Based on the proforma values, calculate the sustainable growth rate. The sustainable growth rate is __________, which is the amount of growth the Hoffman Company can achieve _________.

E) Suppose Hoffman Company is operating at 80% rather than 100% capacity. In this situation, full capacity sales would be _____ and the proforma value for net fixed assets would be ______.

HOFFMAN COMPANY Income Statement Sales Costs Taxable Income Taxes (35%) Net Income 46,000.00 37,600.00 8,400.00 2,940.00 5,460.00 2,400.00 3,060.00 Dividends RE HOFFMAN COMPANY Balance sheet Current Assets Current Liabilities Cash 3,150.00 A/P 4,100.00 N/P 6,400.00 Total 2,475.00 5,400.00 7,875.00 28,000.00 Inventory Total 13,650.00 Long Term Debt Owners' Equity Fixed Assets Net P &E 15,000.00 4,075.00 19,075.00 Common 41,300.00 R/E Total TOTAL ASSETS 4,950.00 Total Liab& Equit 4,950.00