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 $ 767,000 Costs 623,000 Other expenses 31,000 Earnings before interest and taxes Interest paid $ 113,000 15,600 Taxable income Taxes (24%) $ 97,400 23,376 Net income $ 74,024 Dividends Addition to retained earnings $23.440 50,584 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,640 Accounts payable $ 63,000 Accounts receivable 35,100 Notes payable 18,800 Inventory 71,780 Total $ 81,800 Total $ 132,520 Long-term debt $ 115,000 Fixed assets Net plant and equipment Owners' equity Common stock and paid-in $ 110,000 surplus $224,000 Retained earnings 49,720 Total $ 159,720 Total assets 4356 520 $356,520 Total liabilities and owners' equity $356,520 Complete the pro forma income statements below. (Input all answers as positive values. Do not round intermediate calculations.) Sales Costs Other expenses EBIT Interest paid Taxable income Pro Forma Income Statement 20% Sales Growth 25% Sales Growth 30% Sales Growth $ 920,400 $ 958,750 $ 997,100 747,600 778,750 809,900 37,200 38,750 40,300 $ 135,600 $ 141,250 $ 146,900 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.) 25% 30% EFN