The most recent financial statements for an Unnamed Corporation are as follow. Sales for 2022 are projected to grow by 50%. Interest expense will remain constant; the tax rate, debt, and the dividend payout ratio will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase proportionately with sales.

If the firm was operating at full capacity in 2021 and no new debt or equity is issued in 2022. please answer questions a) b) c).

a) Prepare the pro forma income statement for 2022. Fill in the answers in the table on the previous page but use the space below for any calculations.

b) Prepare the pro forma balance sheet for 2022. Fill in the answers in the table on the previous page but use the space below for any calculations.

c) What is the additional financing needed (AFN) to support the 50% growth in sales in 2022?

d) Suppose the firm was only operating at 90% capacity in 2021. What would the AFN for 2022 be in order to support 50% growth in sales?

Please show all work as it's vital for my understanding! Thank you!

XYZ Corporation Income Statement \begin{tabular}{|l|r|r|} \hline & \multicolumn{1}{|c|}{ Income Statement } \\ \hline Sales & \multicolumn{1}{|c|}{2021} & \\ \hline Costs of Goods Sold & $1,050,000 & \\ \hline Other Expenses & $12,000,000 & \\ \hline EBIT & $238,000 & \\ \hline Interest & $21,000 & \\ \hline EBT & $217,000 & \\ \hline Tax (25\%) & $54,250 & \\ \hline Net Income & $162,750 & \\ \hline & $32,550 & \\ \hline Dividends & $130,200 & \\ \hline \end{tabular}