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 Sales $759,000 Costs 594,000 Other expenses 15,000 Earnings before interest and taxes $150,000 Interest paid 16,000 $134,000 Taxes (308) 40,200 $ 93,800 Dividends $28,140 Addition to retained earnings 65,660 Taxable income Net income HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 26,900 Accounts payable Accounts receivable 42,300 Notes payable Inventory 88,500 Total Total $157,700 Long-term debt Owners' equity Fixed assets Het plant and equipment Common stock and paid-in surplus $363.000 Retained earnings Total Total assets $520,700 Total liabilities and owners' equity $ 69,600 18,600 $ 88,200 $142,000 $120,000 162,500 $290,500 $520,700 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) HOPINGTON TOURS INC. Pro Forna Statement of Comprehensive Income 20 # Sales Growth Sales $ Costs Other expenses EBIT $ Interest Taxable income $ Taxes (301) Net income $ Dividends Add to RE $ Complete the pro forma statement of financial position below. Assets Current assets Cash Accounts receivable Inventory Total $ HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners' Equity Current liabilities $ Accounts payable $ Notes payable $ Total $ Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ $ Fixed assets Net plant and equipment $ $ Total assets $ $ Calculate the EFN for 20% growth rates. EPN 206 $