The most recent financial statements for Hopington Tours Inc. follow. Sales for 2018 are projected to grow by 25%. 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. The firm is operating at full capacity and no new debt or equity is issued HOPINGTON TOURS INC 2017 Statement of comprehensive Income Sales $758,000 Costs 593, eee Other expenses 14,000 Earnings before interest and taxes $151,000 Interest paid 10,000 Taxable income $141,000 Taxes (40%) 56,400 Net income $ 84,6ee Dividends $33,840 Addition to retained earnings 50,760 Assets Current assets Cash Accounts receivable Inventory HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 26,800 Accounts payable 42,200 Notes payable 88,400 Total $ 69,500 18,500 $ 88,000 The most recent financial statements for Hopington Tours Inc. follow. Sales for 2018 are projected to grow by 25%. 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. The firm is operating at full capacity and no new debt or equity is issued HOPINGTON TOURS INC 2017 Statement of comprehensive Income Sales $758,000 Costs 593, eee Other expenses 14,000 Earnings before interest and taxes $151,000 Interest paid 10,000 Taxable income $141,000 Taxes (40%) 56,400 Net income $ 84,6ee Dividends $33,840 Addition to retained earnings 50,760 Assets Current assets Cash Accounts receivable Inventory HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 26,800 Accounts payable 42,200 Notes payable 88,400 Total $ 69,500 18,500 $ 88,000