Saved The most recent financial statements for Crosby, Inc., follow. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt- equity ratio is held constant. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $754,000 610,000 24,500 Earnings before interest and taxes Interest paid $ 119,500 10,400 Taxable income Taxes (21%) $ 109,100 22,911 Net income $ 86,189 $42,540 Dividends Addition to retained earnings 43,649 CROSBY, INC Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Saved Cash Accounts receivable $ 24,340 33,670 Accounts payable Notes payable $ 57,800 14,900 Inventory 70,610 Total $ 72,700 Total $ 128,620 Long-term debt $102,000 Owners' equity Common stock and paid-in surplus Retained earnings Fixed assets Net plant and equipment $ 97,000 $ 211,000 67,920 Total $164,920 Total assets $339,620 Total liabilities and owners' equity $339,620 Complete the pro forma income statements below. (Do not round intermedia calculations. Round your answers to the nearest whole dollar amount.) Pro Forma Income Statement 10% Sales Growth 15% Sales Growth 40% Sales Growth $ Sales Costs Other expenses EBIT 829,400 $ 671,000 26,950 131 450 $ 867,100 $ 701,500 28,175 137 4251 s 1,055,600 854,000 34,300 $ 167 3001