The most recent financial statements for Crosby, Incorporated, 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. Assume the firm is operating at full capacity and the debt-equity ratio is held constant.

CROSBY, INCORPORATED
2023 Income Statement
Sales		$ 762,000
Costs		618,000
Other expenses		28,500
Earnings before interest and taxes		$ 115,500
Interest paid		13,600
Taxable income		$ 101,900
Taxes (24%)		24,456
Net income		$ 77,444
Dividends	$ 37,740
Addition to retained earnings	39,704

CROSBY, INCORPORATED
Balance Sheet as of December 31, 2023
Assets	Liabilities and Owners Equity
Current assets		Current liabilities
Cash	$ 25,140	Accounts payable	$ 61,000
Accounts receivable	34,550	Notes payable	17,300
Inventory	71,330	Total	$ 78,300
Total	$ 131,020	Long-term debt	$ 110,000
Fixed assets		Owners equity
Net plant and equipment	$ 219,000	Common stock and paid-in surplus	$ 105,000
		Accumulated retained earnings	56,720
		Total	$ 161,720
Total assets	$ 350,020	Total liabilities and owners equity	$ 350,020

Complete the pro forma income statements below.

Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.

Calculate the EFN for 10, 15, and 40 percent growth rates.

Note: 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.

\begin{tabular}{|l|l|l|l|} \hline \multicolumn{5}{|c|}{ Pro Forma Income Statement } \\ \hline Sales & 10% Sales Growth & & \\ \hline Costs & & & \\ \hline Other expenses & & & \\ \hline EBIT & & & \\ \hline Interest paid & & & \\ \hline Taxable income & & & \\ \hline Taxes (24\%) & & & \\ \hline Net income & & & \\ \hline Dividends & & & \\ \hline Add to RE & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline & 10% & 15% & 40% \\ \hline EFN & & & \\ \hline \end{tabular}