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Income Statement Sales $ 29,700 Costs 22,020 Balance Sheet Assets $24,850 Debt Equity $ 6,350 18,500 Net ncome $ 7,680 Total $24,850 Total $24,850 The
Income Statement Sales $ 29,700 Costs 22,020 Balance Sheet Assets $24,850 Debt Equity $ 6,350 18,500 Net ncome $ 7,680 Total $24,850 Total $24,850 The company has predicted a sales increase of 10 percent. It has predicted that every cem on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. (Input all answers as positive alues. Do not round intermediate calculations.) Answer is complete but not entirely correct. Assets $ $ Pro forma income statement Sales $ 32,670 Costs 24,222 Net income $ 8,448 Pro forma balance sheet 27,335 Debt Equity 27,335 Total 6,350 X 22,724 X 29,074 X Total $ $ Answer is complete but not entirely correct. Assets $ $ Pro forma income statement Sales $ 32,670 Costs 24,222 Net income $ 8,448 Pro forma balance sheet 27,335 Debt Equity 27,335 Total Costs 6,350 X 22,724 X 29,074 Total $ $ What is the plug variable? The plug variable is in the amount of
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