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Problem 3: Consider JMJ Corp.'s current actual income statement and balance sheet below. Complete the proforma financial statements assuming a 20% increase in sales. The

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Problem 3: Consider JMJ Corp.'s current actual income statement and balance sheet below. Complete the proforma financial statements assuming a 20% increase in sales. The com- pany is currently operating at full calacity. JMJ Corp Current Actual Income Statement Pro Forma Sales 4,000 Expenses 2,400 NIBT 1,600 Income tax 400 NIAT 1,200 Dividends 600 Balance Sheet Assets 6,000 Debt 2,000 Equity 4,000 EFN Total capital 6,000

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