The most recent financial statements for Moose Tours, Inc., appear below. Sales for 2016 are projected to grow by either 20, 25, or 30 percent. 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. MOOSE TOURS, INC. 2015 Income Statement Sales Costs Other expenses $750,000 585,000 21,000 Earnings before interest and taxes Interest expense $ 144.000 17,000 Taxable income Taxes (30%) $ 127,000 38,100 Net income $ 88,900 Dividends Addition to retained earnings $ 20,320 68,580 Assets Current assets Cash Accounts receivable Inventory MOOSE TOURS, INC. Balance Sheet as of December 31, 2015 Liabilities and Owners' Equity Current liabilities $ 20,940 Accounts payable 33,260 Notes payable 70,220 Total $ 55,100 14,300 $ 69,400 Total $ 124,420 Long-term debt $ 133,000 Fixed assets Net plant and equipment Owners' equity Common stock and paid-in surplus Retained earnings $ 300,400 $ 119,000 103,420 Total $ 222,420 Total assets $ 424,820 Total liabilities and owners' equity $ 424,820 Complete the pro forma income statements below. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) MOOSE TOURS, INC. Pro Forma Income Statement 20 % Sales Growth 25 % Sales Growth 30 % Sales Growth $ Sales Costs Other expenses 19 EBIT Interest Taxable income Taxes (30%) Net income TIL 19 19 11 69 Dividends Add to RE Calculate the EFN for 20, 25, and 30 percent growth rates. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) 20% 25% 30% EFN SO