M Connect M Email Saved 0 Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales $30,500 Costs 23,910 Balance Sheet Assets $23,250 Debt Equity $ 6,750 16,500 Net income $ 6,590 Total $23,250 Total $23,250 The company has predicted a sales increase of 20 percent. Assume the company pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not. Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Assets Pro forma income statement Sales Costs Net income Pro forma balance sheet Debt Equity Total Total