The most recent financial statements for Crosby Incorporated, follow. Sales for 2021 are projected to grow by 25 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 Costs $ 760,000 595,000 Other expenses 31,000 Earnings before interest and $ 134,000 taxes Interest paid Taxable income Taxes (22%) Net income 27,000 $ 107,000 23,540 $ 83,460 Dividends Addition to retained earnings $ 25,038 58.422 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Liabilities and Owners' Equity Current assets Cash Accounts receivable Inventory Total Fixed assets Assets Current liabilities $ 21,940 44,880 Accounts payable Notes payable 104,960 Total $171,780 Long-term debt Net plant and equipment $436,000 Total assets $ 607,780 Owners' equity Common stock and paid-in surplus Retained earnings Total $ 56,100 15,300 $ 71,400 $ 143,000 $ 121,000 272,380 $ 393,380 Total liabilities and owners' equity $607,780 In 2020, the firm operated at 75 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that the company cannot sell fixed assets. This implies that asset utilization may remain less than 100 percent next year as well. (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) In 2020, the firm operated at 75 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that the company cannot sell fixed assets. This implies that asset utilization may remain less than 100 percent next year as well. (Do not round Intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Sales Pro Forma Income Statement Costs Other expenses EBIT $ 0 Interest Taxable income $ 0 Taxes (22%) Net income $ 0 Current assets Cash Pro Forma Balance Sheet Assets Liabilities and Owners' Equity Current liabilities Accounts payable Accounts receivable Notes payable Inventory Total current liabilities Total current assets $ 0 Long-term debt Fixed assets Net plant and equipment Total assets Owners' equity Common stock and paid-in surplus Retained earnings $ 0 Total owner's equity $ 0 $ 0 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