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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

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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 754,000 Costs 589,000 Other expenses 25,000 Earnings before interest and taxes Interest paid $ 140,000 21,000 Taxable income Taxes (21%) $ 119,000 24,990 Net income $ 94,010 Dividends Addition to retained earnings $ 28,203 65,807 CROSBY, INCORPORATED De Chart 4 Dividends Addition to retained earnings $ 28,203 65,807 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Assets Liabilities and Owners Equity Current assets Current liabilities Cash $ 21,340 Accounts payable Accounts receivable 44,280 Notes payable $ 55,500 14.700 Inventory 98,960 Total $ 70,200 Total $ 164,580 Long-term debt $ 137,000 Fixed assets Net plant and equipment $ 430,000 Owners' equity Common stock and paid in surplus Retained earnings $ 118,000 269.380 Total $ 387380 Total assets $ 594,580 Total liabilities and owners equity $ 594580 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 Total assets $ 594,580 Total liabilities and owners' equity $ 594,580 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.) Pro Forma Income Statement Sales Costs Other expenses EBIT Interest Taxable income Taxes Net income Assets Current assets Cash Accounts receivable Inventory Total current assets Pro Forma Balance Sheet Liabilities and Owners' Equity 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 Fixed assets Net plant and equipment Total assets What is the EFNZ (Do not round intermediate calculations and round your answer to the nearest witale number, ag.. 32. A negative answer should be indicated by a minus sign)

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