Proforma Questions 1. Based on the following information for the Skandia Mining Company, what is EFN if sales are predicted to grow by 10%? Use the percentage of sales approach and assume the company is operating at full capacity. The payout ratio is constant. $78.61 Skandia Mining Company Financial Statements Balance Sheet Income Statement Assets Liabilities and Owners' Equity Current Assets $900.00 Current Liabilities Net Fixed Sales $4,250.00 $500.00 Costs raxable Income faxes (34%) $1,800.00 $800.00 ($3,875.00) Assets $2,200.00 Long-term debt $375.00 ($127.50) Owners' Equity Total Total liabilities and owners Vet Income Dividends Addition to retained arnings $247.50 Assets $3,100.00 equity (582.60) $3,100.00 $164.90 2. Based on the information in Problem 1, what is EFN, assuming 60% capacity usage for net fixed assets? Assuming 95% capacity?-$141.39 and-$42.39 3. Based on the information in Problem 1, what growth rate can Skandia maintain if no external funding is used? what is the sustainable growth rate? 5.62% and 25.99% Income Statement Sales Costs Taxable Income Taxes (40%) Net Income $19,500.00 ($15,000.00) $4,500.00 ($1,800.00) $2,700.00 Balance Sheet Assets $98,000.00 Debt $52,500.00 Total $98,000.00 Total $98,000.00 Equity $45,500.00 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $ 1,400 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $ 21,840 What is the external financing needed? $10,304