See below for recent financial statements for Play Now Enterprises. Create pro forma statements for next year using the following

assumptions. Sales are projected to grow by $5$ percent. Interest expense will remain constant; the tax rate and the dividend payout rate will

also remain constant. Costs, depreciation, accounts receivable, inventory, fixed assets, and accounts payable increase spontaneously with

sales. The company plans to keep its cash holding at the same level. The company already plans to issue $$20,000$ in new long$-$term debt but

otherwise expects to keep notes payable and common stock at the same levels.

Sales $506,454$ Cash $34,38537,837$ Accounts payable $36,72242,582$

Costs $355,228$ Accounts receivable $17,80127,766$ Notes payable $34,86931,055$

Depreciation $41,463$ Inventory $36,31042,236$ Total current liabilities $71,59173,637$

Earnings before

interest and taxes $109,763$ Total current assets $88,496107,839$

Long$-$term debt $115,000145,000$

Interest paid $18,243$

Taxable income $91,520$ Common stock $56,00056,000$

Fixed assets $461,312519,655$ Retained earnings $307,217352,857$

Taxes $(25\%)22,880$ Total owner's equity $363,217408,857$

Net income $68,640\mathrm{.}00$

Total liab. and

Dividends $23,000$ Total assets $549,808627,494$ owner's equity $549,808627,494$

Addition to RE $45,640$

What is the company$$s pro forma sales?

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What is the company$$s pro forma dividends?

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What is the company$$s pro forma current assets?

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What is the company$$s pro forma long$-$term debt?

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What is the company$$s projected external financing needed?

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Given the EFN figure you calculated, would the company be able to pay a special dividend without raising any additional external financing?

Please provide a one$-$sentence explanation along with your "yes" or $"$no$"$ answer.

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