The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales.

SCOTT, INC. 2019 Income Statement
Sales				$	756,000
Costs					591,000
Other expenses					27,000
Earnings before interest and taxes				$	138,000
Interest expense					23,000
Taxable income				$	115,000
Taxes (23%)					26,450
Net income				$	88,550
Dividends	$	26,565
Addition to retained earnings		61,985

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	21,540		Accounts payable	$	55,700
Accounts receivable		44,480		Notes payable		14,900
Inventory		100,960		Total	$	70,600
Total	$	166,980		Long-term debt	$	139,000
Fixed assets				Owners equity
Net plant and equipment	$	432,000		Common stock and paid-in surplus	$	119,000
				Retained earnings		270,380
				Total	$	389,380
Total assets	$	598,980		Total liabilities and owners equity	$	598,980

In 2019, the firm operated at 75 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that fixed assets are sold so that the company has a 100 percent asset utilization. (Do not round intermediate calculations.)

Answer is complete but not entirely correct. Pro Forma Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities 15 Cash $ 86,840 Accounts receivable 14.900 Inventory $ 81,740 Total $ $ 139,000 25.848 Accounts payable 53,376 Notes payable 121.152 Total 200.376 Long-term debt Owners' equity Common stock and paid-in surplus 432.000 Retained earnings Total 632,376 X Total liabilities and owners equity S 119.000 Fored assets Net plant and equipment IS 347,241 OS IS Total assets $ 466,241 686,981 $ What is the EFN? (Do not round Intermediate calculations. A negative answer should be indicated by a minus signal