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please show calculations Assumptions: The firm is operating at 85% capacity. Sales are expected to increase by 20%. Interest expense will remain constant. Tax rate

please show calculations
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Assumptions: The firm is operating at 85% capacity. Sales are expected to increase by 20%. Interest expense will remain constant. Tax rate and dividend payout ratio remain constant. COGS, other expenses, and total current assets increase with sales. Accounts payable will be 7% of sales. Determine EFN. Assume external funds will be raised as follows: 20% notes payable, 30% long-term debt, and 50% common stock. Income Statement for Fleury, Inc. Year Ended December 31, 2020 Forecast Sales $743,000 COGS $578,000 Other expenses $ 15,200 EBIT $149,800 Interest S 11.200 EBT $138,600 Taxes (35%) $48.510 Net income $ 90,090 Dividends $. 18.018 Add to Retained Earnings $ 72,072 Balance Sheet for Fleury, Inc. as of December 31, 2020 Cash $ 15,240 Receivables $ 37,560 Inventories $ 69.520 Total current assets $122,320 Net fixed assets $330,400 Total assets $452,720 Accounts payable $ 54,400 Notes payable $ 13.600 Total current liabilities $ 68,000 Long-term debt $126,000 Total debt $194,000 Common stock $112,000 Retained Earnings $146.720 Total Common equity $258,720 Total liabilities & equity $452,720

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