The firm is operating at 80 percent capacity. Sales are expected to increase by the average growth rate from years 2018 to 2020. COGS and all other expenses will increase in proportion to sales. All Interest categories (income, expense, and other) will remain constant. The corporate tax rate and dividend payout ratio will remain constant. Total current assets, and all long-term assets except Property, Plant, and Equipment Net increase with sales. All short-term liabilities except notes payable increase with sales. All long-term obligations except Long-term debt increase with sales. Determine EFN.

Income Statement	2020
Sales	58,158	(0.2416)
COGS	63800
Other expenses	43
EBIT	63843
Interest	2156
EBT	61,687
Taxes	2535
Net income	59152
Dividends	8.22
Add. to Retained Earnings	59143.78
Balance Sheet
Cash	7752
Receivables	1955
Inventories	81715
Total current assets	121642
Net fixed assets
Total assets	152136
Accounts payable	12928
Notes payable	0
Total current liabilities	87280
Long-term debt	61890
Total debt	162098
Common stock	5061
Retained Earnings	38610
Total Common equity	-18075