The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales.

CROSBY, INC. 2017 Income Statement
Sales				$	747,000
Costs					582,000
Other expenses					18,000
Earnings before interest and taxes				$	147,000
Interest paid					14,000
Taxable income				$	133,000
Taxes (24%)					31,920
Net income				$	101,080
Dividends	$	31,335
Addition to retained earnings		69,745

CROSBY, INC. Balance Sheet as of December 31, 2017
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	20,640		Accounts payable	$	54,800
Accounts receivable		43,580		Notes payable		14,000
Inventory		91,960		Total	$	68,800
Total	$	156,180		Long-term debt	$	130,000
Fixed assets				Owners equity
Net plant and equipment	$	423,000		Common stock and paid-in surplus	$	114,500
				Retained earnings		265,880
				Total	$	380,380
Total assets	$	579,180		Total liabilities and owners equity	$	579,180

In 2017, the firm operated at 80 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that fixed assets are sold so that the company has a 100 percent asset utilization. (Do not round intermediate calculations.)

Pro Forma Income Statement
Sales	$896,400
Costs	698,400
Other expenses	21,600
EBIT	$176,400
Interest	14,000
Taxable income	$162,400
Taxes
Net income

Assets Current assets Cash Accounts receivable Inventory Total Pro Forma Balance Sheet Liabilities and Owners' Equity 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 Total assets What is the EFN? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) EFN