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 758,000 Costs 614,000 Other expenses 26,500 Earnings before interest and $117,500 taxes 12,000 Interest paid Taxable income Taxes (25%) Net income Dividends 105,500 26,375 $ 79,125 $40,140 38,9851 Assets $ 24,740 Addition to retained earnings Current assets Cash CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current liabilities Accounts payable Accounts receivable 34,110 Notes payable Inventory Total 70,970 Total $ 129,820 Long-term debt $ 59,400 16,100 $75,500 $106,000 Owners' equity Common stock and paid-in Fixed assets $101,000 surplus Net plant and equipment $215,000 Retained earnings 62,320 Assets Current assets Cash CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current liabilities Accounts receivable $24,740 34,110 Accounts payable Notes payable Inventory Total 70,970 Total $129,820 Long-term debt $59,400 16,100 $ 75,500 $106,000 Owners' equity Common stock and paid-in Fixed assets $101,000 surplus Net plant and equipment $215,000 Retained earnings 62,320 Total $163,320 Total assets $344,820 Total liabilities and owners' equity $344,820 Complete the pro forma income statements below. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Pro Forma Income Statement 10% Sales Growth 15% Sales Growth 40% Sales Growth Sales S 833,800 $ 871,700 $ 1,061,200 Costs 675,400 706,100 859,600 Other expenses 29.150 30,475 37,100 EBIT $ 129,250 $ 135,125 $ 164,500 Interest paid 12,000 12,000 12,000 Tavahie innome 117 2507 s 123 195 152 500l Complete the pro forma income statements below. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Pro Forma Income Statement 10% Sales Growth 15% Sales Growth 40% Sales Growth Sales $ 833,800 $ 871,700 $ 1,061,200 Costs 675,400 706,100 859,600 Other expenses 29,150 30,475 37,100 EBIT $ 129,250 $ 135,125 $ 164,500 Interest paid 12,000 12,000 12,000 Taxable income $ 117,250 $ 123,125 $ 152,500 Taxes (25%) 29,313 30,781 38,125 Net income $ 87,938 $ 92,344 $ 114,375 Dividends $ Add to RE 44,611 $ 43,327 46,846 $ 58,022 45,498 56,353 Calculate the EFN for 10, 15 and 40 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 10% 15% 40% Calculate the EFN for 10, 15 and 40 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 10% 15% 40%