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			$	761,000
Costs				596,000
Other expenses				17,000
Earnings before interest and taxes			$	148,000
Interest paid				18,000
Taxable income			$	130,000
Taxes (30%)				39,000
Net income			$	91,000
Dividends	$	20,800
Addition to retained earnings		70,200

HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2017
Assets			Liabilities and Owners Equity
Current assets			Current liabilities
Cash	$	27,100	Accounts payable	$	69,800
Accounts receivable		42,500	Notes payable		18,800
Inventory		88,700	Total	$	88,600
Total	$	158,300	Long-term debt	$	144,000
			Owners equity
Fixed assets			Common stock and paid-in surplus	$	130,000
Net plant and equipment	$	380,000	Retained earnings		175,700
			Total	$	305,700
Total assets	$	538,300	Total liabilities and owners equity	$	538,300

Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.)

HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income
	25 % Sales Growth
Sales	$
Costs
Other expenses
EBIT	$
Interest
Taxable income	$
Taxes (30%)
Net income	$
Dividends	$
Add. to RE

Complete the pro forma statement of financial position below.

HOPINGTON TOURS INC. Pro Forma Statement of Financial Position
Assets		Liabilities and Owners Equity
Current assets		Current liabilities
Cash	$	Accounts payable	$
Accounts receivable	$	Notes payable	$
Inventory	$	Total	$
Total	$	Long-term debt	$
		Owners equity
Fixed assets		Common stock and paid-in surplus	$
Net plant and equipment	$	Retained earnings	$
		Total	$
Total assets	$	Total liabilities and owners equity	$

Calculate the EFN for 25% growth rates.

	25%
EFN	$

N