The most recent financial statements for Crosby, Incorporated, appear below. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. Assume the firm is operating at full capacity and the debt$-$equity ratio is held constant.

CROSBY, INCORPORATED

$2021$ Income Statement

Sales $ $761,000$

Costs $617,000$

Other expenses $28,000$

Earnings before interest and taxes $ $116,000$

Interest expense $13,200$

Taxable income $ $102,800$

Taxes $(23\%)23,644$

Net income $ $79,156$

Dividends $ $38,340$

Addition to retained earnings $40,816$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2021$

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

Fixed assets Common stock and paid$-$in surplus $ $104,000$

Net plant and equipment $ $218,000$ Retained earnings $58,120$

Total $ $162,120$

Total assets $ $348,720$ Total liabilities and owners$$ equity $ $348,720$

Complete the pro forma income statements below. $($Do not round intermediate calculations and round your answers to the nearest whole number, e$.$g$.,32.)$

Calculate the EFN for $15,20$ and $45$ percent growth rates. $($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e$.$g$.,32.)$

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