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		$ 745,000
Costs		580,000
Other expenses		16,000
Earnings before interest and taxes		$ 149,000
Interest paid		12,000
Taxable income		$ 137,000
Taxes (22%)		30,140
Net income		$ 106,860
Dividends	$ 33,127
Addition to retained earnings	73,733

CROSBY, INCORPORATED
Balance Sheet as of December 31, 2020
Assets		Liabilities and Owners Equity
Current assets		Current liabilities
Cash	$ 20,440	Accounts payable	$ 54,600
Accounts receivable	43,380	Notes payable	13,800
Inventory	89,960	Total	$ 68,400
Total	$ 153,780	Long-term debt	$ 128,000
Fixed assets		Owners equity
Net plant and equipment	$ 421,000	Common stock and paid-in surplus	$ 113,500
		Retained earnings	264,880
		Total	$ 378,380
Total assets	$ 574,780	Total liabilities and owners equity	$ 574,780

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.

Pro Forma Income Statement Sales Costs Other expenses EBIT S Interest Taxable income S Taxes (22%) Net income S 0 0 Assets Current assets Cash Accounts receivable Inventory Total current assets 0 Pro Forma Balance Sheet Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total current liabilities S 0 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total owner's equity S 0 Total liabilities and owners' equity S $ Fixed assets Net plant and equipment 0 | Total assets S 0 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