Sales $ $767,000$

Costs $623,000$

Other expenses $31,000$

Earnings before interest and taxes $ $113,000$

Interest expense $15,600$

Taxable income $ $97,400$

Taxes $(24\%)23,376$

Net income $ $74,024$

Dividends $ $34,740$

Addition to retained earnings $39,284$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $25,640$ Accounts payable $ $63,000$

Accounts receivable $35,100$ Notes payable $18,800$

Inventory $71,780$ Total $ $81,800$

Total $ $132,520$ Long$-$term debt $ $115,000$

Owners$$ equity

Fixed assets Common stock and paid$-$in surplus $ $110,000$

Net plant and equipment $ $224,000$ Retained earnings $49,720$

Total $ $159,720$

Total assets $ $356,520$ Total liabilities and owners$$ equity $ $356,520$

Complete the pro forma income statements below. $($Do not round intermediate calculations and round your answers to the nearest whole number, e$.$g$.,32.)$

Calculate the EFN for $15,20$ and $45$ percent growth rates. $($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e$.$g$.,32.)$