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The most recent financial statements for Hopington Tours Inc. follow. Sales for 2018 are projected to grow by 20%. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2017 Statement of Comprehensive Income Sales Costs $751,000 586,000 22,000 Other expenses Earnings before interest and taxes $143,000 Interest paid 18,000 Taxable income $125,000 Taxes (30%) 37,500 Net income $ 87,500 Dividends $30,000 Addition to retained earnings 57,500 HORINGTON TOURS THE HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current assets Current liabilities Cash $ 26,100 Accounts payable Notes payable $ 68,800 17,800 Accounts receivable 41,500 Inventory 87,700 Total $ 86,600 Total $155,300 Long-term debt $134,000 Owners' equity Fixed assets $120,000 Common stock and paid-in surplus Retained earnings Net plant and equipment $340,000 154,700 Total $274,700 Total assets $495,300 Total liabilities and owners' equity $495,300 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) Assets Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 20% Sales Growth Sales 4 Costs W Other expenses EBIT Interest Taxable income Taxes (30%) Net income 89 $ GA $ Dividends Add. to RE Complete the pro forma statement of financial position below. - Complete the pro forma statement of financial position below. Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Calculate the EFN for 20% growth rates. 20% $ EFN HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 19 19 19 19 $ $ $ $ $ Liabilities and Owners' Equity $ 14 14 14 $ $ $ in LA LA A $ $ 10 100