The most recent financial statements for Hopington Tours Inc. follow Sales for 2018 are projected to grow by 20%. 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 Soles $751,000 Costs 586,00 Other expenses 22,080 Earnings before interest and taxes $143, Interest paid 18.000 Taxable income $125,000 Taxes (3) 37.500 Net income $ 87,500 Dividends $30,000 Addition to retained earnings 57,500 Assets Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Liabilities and Owners' Equity Current liabilities $ 26,100 Accounts payable 41,500 Notes payable 37.700 Total $155.300 Long-term debt Owners' equity Common stock and paid in surplus 5340.000 statned earnings Total $ 68,800 12.800 $ 86,600 5134,000 Fixed assets Net plant and equipment $120.000 154,700 $27500 (input all amounts as positive value HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 20 % Sales Growth Sales $ 901200 Costs 703200 Other expenses 26400 EBIT $ 171600 Interest 18000 Taxable income $ 189600 Taxes (30%) 56880 Net income 13720 $ $ Dividends Add. to RE $ 37785.711 24065.7 Complete the pro forma statement of financial position below Assets Current assets Cash Accounts receivable Inventory Total 5 5 HOPINGTON TOURS INC Pro Forms Statement of Financial Position Liabilities and Owners wity Current liabilities 151320 Accounts payable 5 49800 Notes payable 3 105240 Total 5306350 Long-term det Owners' equity Common stock and paid in surplus B000 Betained earnings Total $714100 Total abilities and ownersity 82560 17000 10000 134000 5 Fixed assets Net plant and equipment $ 12000 128765 200701 Total assets Calculate the EFN for 20's growth rates 20 ER