Pro-Forma Financial Statements Given are the financial statements of EG Corp for 2020 and forecasted information for 2021. EG Corp 2020 Income Statement Revenue 800,000.00 Less: Cost fo Goods Sold 600,000.00 Gross Profit 200,000.00 Less: Operating Expenses 100,000.00 Net Profit Before Tax 100,000.00 Less: Tax (40%) 40,000.00 Net Profit After Tax 60,000.00 Less: Cash Dividends Retained Earnings 20,000.00 40,000.00 EG Corp 2020 Balance Sheet Assets Liabilities and Stockholders' Equity Cash 32,000.00 Accounts Payable 100,000.00 Marketable Securities Accounts Receivables 150,000.00 18,000.00 Taxes Payable 20,000.00 Other Current Liabilities 5,000.00 Inventories 100,000.00 Total Current Liabilities 125,000.00 Total Current Assets 300,000.00 Long Term Debt 200,000.00 Net Fixed Assets 350,000.00 Total Liabilities 325,000.00 Total Assets 650,000.00 Common Stock 150,000.00 Retained Earnings 175,000.00 Total Liabilities and Equity 650,000.00 The firm has estimated that its sales for 2021 will be $900,000. The firm expects to pay $35,000 in cash dividends in 2021. The firm wishes to maintain a minimum cash balance of $30,000. Accounts receivable represent approximately 18% of annual sales. The firm's ending inventory will change directly with changes in sales in 2021. A new machine costing $42,000 will be purchased in 2021. Total depreciation for 2021 will be $17,000. Accounts payable will change directly in response to changes in sales in 2021. Taxes payable will equal one-fourth of the tax liability on the pro forma income statement. Marketable securities, other current liabilities, long-term debt, and common stock will remain unchanged. A. Prepare a pro-forma Income Statement for 2021 B. Prepare a pro-forma Balance Sheet for 2021 C. How much is the required financing for 2021?