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 2020 Income Statement Sales $771,000 Costs 627,000 Other expenses 33.000 Earnings before interest and $ 111,000 taxes 17,200 Interest paid Taxable income Taxes (23%) Net income $ 93,800 21,574 $ 72,226 Dividends Addition to retained earnings $ 32,340 39.886 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current assets Cash Accounts receivable Inventory Total Assets Current liabilities $ 26,040 35,540 Accounts payable Notes payable 72,140 Total $ 133,720 Long-term debt Owners' equity $ 64,600 20,000 $ 84,600 $ 119,000 Fixed assets Net plant and equipment $228,000 Common stock and paid-in surplus Retained earnings $ 114,000 44,120 Total $158,120 Total assets $ 361,720 Total liabilities and owners' equity $ 361,720 Complete the pro forma income statements below. (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Complete the pro forma income statements below. (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Sales Costs Other expenses EBIT Interest paid Taxable income Taxes (2396) Net income Dividends Add to RE Pro Forma Income Statement 15% Sales Growth 20% Sales Growth 45% Sales Growth 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.) EFN 15% 20% 45%