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. Assume the firm is operating at full capacity and the debt- equity ratio is held constant. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $761,000 617,000 28,000 Earnings before interest and taxes Interest paid $ 116,000 13,200 Taxable income Taxes (23%) $102,800 23,644 Net income $ 79,156 Dividends Addition to retained $38,340 40.816 Prey 10 of 15 Neyt CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,040 Accounts payable $ 60,600 Accounts receivable 34,440 Notes payable 17,000 Inventory 71,240 Total $ 77,600 Total $ 130,720 Long-term debt $109,000 Fixed assets Owners' equity Common stock and paid-in surplus Retained earnings $104,000 Net plant and equipment $218,000 58,120 Total $ 162,120 Total assets $348,720 Total liabilities and owners' equity $348,720 Complete the pro forma income statements below. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Pro Forma Income Statement 15% Sales Growth 20% Sales Growth 45% Sales Growth 52:43 Sales $ Costs ok Other expenses EBIT $ ences 913,200 740,400 33,600 139,200 13,200 126,000 28,980 97,020 $ Interest paid Taxable income Taxes (23%) Net income $ Dividends Add to RE 28,980 97,020 $ Taxes (23%) Net income Dividends Add to RE Calculate the EFN for 15, 20 and 45 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) 15% 20% 45% EFN