The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 30 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, INCORPORATED 2020 Income Statement $ Sales 758,000 Costs 593,000 Other expenses 29,000 Earnings before Interest and $136,000 taxes Interest paid Taxable Income Taxes (25%) 25,000 $111,000 27,750 Net Income Dividends $83,250 $24,975 58,275 Addition to retained earnings CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current liabilities Current assets Cash Accounts receivable Inventory Assets $ 21,740 Accounts payable 44,680 Notes payable 102,960 Total $ 169,380 Long-term debt Total Fixed assets Net plant and equipment $434,000 Owners' equity Common stock and paid-in surplus $ 55,900 15,100 $ 71,000 $141,000 $ 120,000 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Assets Current assets Current liabilities Cash $ 21,740 Accounts payable Accounts receivable 44,680 Notes payable Inventory 102,960 Total Total $ 169,380 Long-term debt Fixed assets Owners' equity $55,900 15.100 $ 71,000 $141,000 Net plant and equipment $434,000 Common stock and paid-in surplus Retained earnings $ 120,000 271,380 Total $ 391,380 Total assets $ 603,380 Total liabilities and owners' equity $603,380 In 2020, the firm operated at 75 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 and round your answers to the nearest whole number, e.g.. 32) Answer is not complete. Pro Forma Income Statement Sales Costs Other expenses EBIT Interest Taxable income Taxes S 985,400 770,900 37,700 In 2020, the firm operated at 75 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 and round your answers to the nearest whole number, e.g., 32) Answer is not complete. Pro Forma Income Statement Sales Costs Other expenses EBIT Interest Taxable income 985,400 770,900 37,700 Taxes Net income S 113,850 Current assets Assets Pro Forma Balance Sheet Current liabilities Liabilities and Owners' Equity Cash Accounts receivable Inventory Total current assets Fixed assets Not plant and aninment Accounts payable Notes payable Total current liabilities Long-term debt Owners' equity Common stock and paid-in surplus Retained eaminns Assets Pro Forma Balance Sheet Liabilities and Owners' Equity Current assets Cash Accounts receivable Inventory Total current assets Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable Total current liabilities Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total owner's equity Total liabilities and owners' equity What is the EFN? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g.. 32. A negative answer should be indicated by a minus sign.) EFN Answer is not complete