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 $761,000 Costs 617,000 Other expenses 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 earnings $27,640 51,516 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 Owners' equity Common stock and paid-in surplus Retained earnings Fixed assets Net plant and equipment $104,000 $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. (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