please notice the 80 percent capacity should be added on the sales.

The most recent financial statements for Fleury Inc., follow. Sales for 2012 are projected to grow by 20 percent. Interest expense will remain constant, the tax rate and the dividend payout rate will also remain constant Costs, other expenses, current assets. fixed assets and accounts payable increase spontaneously with sales FLEURY, INC 2011 Income Statement Sales Costs Other expenses $743.000 578,000 15.200 Earnings before interest and taxes Interest pald $ 149,800 11.200 $ 138,600 48,510 Taxable income Taxes (35%) Net Income $ 90,090 Dividends Addition to retained earnings $ 27,027 63,063 FLEURY, INC. Balance Sheet as of December 31, 2011 Assets Llabilities and Owners' Equity Current assets Current liabilities Cash $ 20,240 Accounts payable $ 54,400 Accounts receivable 32.560 Notes payable 13.600 Inventory 69,520 Total $ 68,000 $126,000 Total Fixed assets Net plant and equipment $ 122.320 Long-term debt Owners' equity Common stock and paid in $330,400 surplus Retained earnings $112.000 146720 Total $258720 Total assets $452720 equity 20 Total abilities and owners $452720 What is the EFN If the firm was operating at only 80 percent of capacity in 20117 Assume that fixed assets are sold so that the company has a 100 percent asset utilization (Negative amount should be indicated by a minus sign.) EFN $46794