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 Other expenses $757,000 613,000 26,000 Earnings before interest and taxes Interest paid $ 118,000 11,600 Taxable income Taxes (24%) $106,400 25,536 Net income $ 80,864 Dividends Addition to retained earnings $30,440 50,424 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 24,640 Accounts payable $ 59,000 Accounts receivable 34.000 Notes payable 15,800 Inventory 70,880 Total $ 74,800 Total $ 129,520 Long-term debt $ 105,000 Owners' equity Common stock and paid-in surplus $ 214,000 Retained earnings Fixed assets Net plant and equipment $ 100,000 63,720 Total $ 163,720 Total assets $343,520 Total liabilities and owners equity $343.520 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 $ 984,100 908,400 $ 735,600 946,250 $ 766,250 Costs 796.900 33.800 Other expenses EBIT 31,200 141,600 $ $ $ $ 32,500 147,500 $ 11,600 Interest paid Taxable income 11,600 130,000 $ 153,400 11,600 141,800 $ 135,900 $ 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