The balance sheet and income statement for Webb Enterprises Inc. are found below: Balance Sheet Cash and marketable securities Accounts receivable Inventories Current assets Net property, plant, and equipment Total Accounts payable Short-term debt Current liabilities Long-term debt Total liabilities Total owners' equity 2015 500 6,000 9,500 $ 16,000 17,000 $ 33,000 $ 7,200 6,800 $ 14,000 7,000 Revenues Income Statement Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes $ 21,000 12,000 33,000 Taxes Net income 2015 $ 30,000 (20,000) $ 10,000 (8,000) $ 2,000 (900) $ 1,100 (400) 700 Total liabilities and owners' equity A. Prepare a pro forma income statement and balance sheet for Webb Enterprises, where revenues are expected to grow by 25% in 2016. Make the following assumptions in making your forecast of the firm's balance sheet for 2016 The income statement expenses are a constant percentage of revenues except for interest, which remains equal in dollar amount to the 2015 level, and taxes, which equal 40% of earnings before taxes. The cash and marketable securities balance remains equal to $500, and the remaining current asset accounts increase in proportion to revenues for 2015. Net property, plant, and equipment increase in proportion to the increase in revenues and depreciation expenses for 2016 is $2,000. Accounts payable increases in proportion to firm revenues. Owners' equity increases by the amount of firm net income for 2016(no cash dividends are paid). Long-term debt remains unchanged, and short-term debt changes in an amount that balances the balance sheet. B. Using your pro forma financial statements, estimate the firm's FCF for 2016.