The most recent financial statements for Fleury Inc., 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. FLEURY, INC. 2014 Income Statement Sales Costs Other expenses $754,000 589,000 10,000 Earnings before interest and taxes Interest paid $155,000 11,000 Taxable income Taxes (30%) $144,000 43,200 Net income $100,800 Dividends Addition to retained earnings $ 20,160 80,640 FLEURY, INC. Balance Sheet as of December 31, 2011 Assets Current assets Cash Accounts receivable Liabilities and Owners' Equity Current liabilities Accounts payable $ 55,500 Notes payable 14,700 $ 21,340 33,660 Inventory 70,620 Total $ 70,200 Total $ 125,620 Long-term debt $137,000 Owners' equity Common stock and paid-in surplus $123,000 Retained earnings 225,420 Fixed assets Net plant and equipment $430,000 Total $348,420 Total assets $555,620 Total liabilities and owners' equity $555,620 Complete the pro forma income statements below. (Input all amounts as positive values. Do not round intermediate calculations.) FLEURY INC. Pro Forma Income Statement 15 % Sales Growth 25 % Sales Growth 30 % Sales Growth Sales Costs Other expenses EBIT Interest Taxable income Taxes Net income Dividends Add to RE Calculate the EFN for 15, 25 and 30 percent growth rates. (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) 15% 25% 30% EFN %