Question 1 3.5 pts Consider the following simplified financial statements (assuming no income tax): Income Statement Balance Sheet Sales $39,200 Assets $21,600 Debt $6,600 Costs 32,650 15,000 Equity 21,600 Total Net Income 6,550 Total 21,600 The company has predicted a sales increase of 16%. It has predicted that every item on the income statement and balance sheet will increase by 16% as well. Create the pro forma statements and answer the following: What is the Pro Forma Net Income