INCUIELIEUucation.com/flow/connect.html ne Assignment Saved The most recent financial statements for Scott, Inc., appear below. Interest expense will remain constant the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt- equity ratio is held constant SCOTT, INC 2019 Income Statement Sales Costs Other expenses ok $757,000 613,000 26,000 nt $ 118,000 Earnings before interest and taxes Interest expense 11,600 ences Taxable income Taxes (24%) $106,400 25,536 Net income $ 80,864 Dividends Addition to retained earnings $40,740 40,124 SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24,640 Accounts payable $ 59,000 Accounts receivable 34,000 Notes payable 15,800 ne Assignment i Saved SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24.640 Accounts payable $ 59,000 Accounts receivable 34,000 Notes payable 15,800 Inventory 70,880 Total $ 74,800 Total $ 129,520 Long-term debt $105,000 Owners' equity Common stock and paid-in surplus $ 214,000 Retained earnings Fixed assets Net plant and equipment $100,000 63,720 ces Total $ 163,720 Total assets $343,520 equity Total liabilities and owners' $343,520 Complete the pro forma income statements below. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Pro Forma Income Statement 15% Sales Growth 20% Sales Growth 45% Sales Growth 908 400 $ 1.097.650 LI assignment i Saved Pro Forma Income Statement 15% Sales Growth 20% Sales Growth 45% Sales Growth Sales Costs Other expenses EBIT Interest expense Taxable income Taxes (24%) Net income Dividends Add to RE Calculate the EFN for 15, 20 and 45 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) 15% 20% 45% EFN