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Pro Forma Analysis (15 Points.) Consider the following Balance Sheet for XYZ Corporation in 2019 (numbers are in millions): 2019 2020 Assets $15 Cash Accounts

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Pro Forma Analysis (15 Points.) Consider the following Balance Sheet for XYZ Corporation in 2019 (numbers are in millions): 2019 2020 Assets $15 Cash Accounts Receivable $35 $45 Inventory Plant, Property and Equipment $150 $120 Total Assets $245 Liabilities $55 $90 Accounts Payable Debt Total Liabilities Stockholders' Equity Total Liabilities Plus Stockholder's Equity $101 $156 245 (a) 10 Points. In addition to the information on the balance sheet, XYZ's sales in 2019 are $60 million while the company's net income is $19 million. If the dividend payout ratio is 50% forecast and sales in 2020 are projected to be $150 million forecast XYZ's balance sheet for 2020 using the percent of sales method. Fill in the numbers in the table. (You can use the space below for calculations.) (b) 5 Points. Is the balance sheet identity that assets equal liabilities plus equity satisfied? If not explain what the dis-balance indicates and provide one way to fix it

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