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. CROSBY, INC. 2017 Income Statement Sales Costs $756,000 612,000 25,500 Other expenses Earnings before interest $ 118,500 and taxes Interest paid 11,200 Taxable income $ 107,300 24,679 Taxes (23%) Net income $82,621 Dividends Addition to retained earnings Assets Current assets Cash Accounts receivable Inventory Total $31,140 51,481 CROSBY, INC. Balance Sheet as of December 31, 2017 Current liabilities $ 24,540 Accounts payable 33,890 Notes payable 70,790 Total $129,220 Long-term debt Liabilities and Owners' Equity $ 58,600 15,500 $ 74,100 $104,000 Owners' equity Common stock and paid-in $ 99,000 surplus Fixed assets Net plant and equipment $ 213,000 Retained earnings 65,120 Total $164,120 Total assets $342,220 Total liabilities and owners' equity $342,220 Complete the pro forma income statements below. (Input all answers as positive values. Do not round intermediate calculations.) Pro Forma Income Statement 20% Sales Growth 25% Sales Growth 30% Sales Growth Sales Costs Other expenses EBIT Interest paid Taxable income Taxes Net income Dividends Add to RE Calculate the EFN for 20, 25 and 30 percent growth rates. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) 20% 25% 30% EFN