The most recent financial statements for Crosby, Inc., follow. Sales for 2021 are projected to grow by 20%. 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. 2020 Income Statement Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (21%) Net income Dividends Addition to retained earnings $686,530 554,420 14,020 $118,090 12,090 $106.000 22,260 $ 83,740 $27,475 56,265 CROSBY, INC. Balance Sheet as of December 31, 2020 Assets Liabilities and Owners' Equity Current assets Cash Accounts receivable $ 20,940 31,970 71,320 $124,230 $ 53,790 13,215 $ 67,005 $127,500 Inventory Total Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity Fixed assets Net plant and equipment $341,980 $105,000 166,705 $271,705 $466,210 Total assets $466,210 * 25. Capacity Usage and Growth [LO2] In Problem 24, suppose the firm was operat- ing at only 80 percent capacity in 2020. What is EFN now? Iroon its