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Tomey Supply Companys financial statements for the most recent fiscal year are shown below. The company projects that sales will increase by 27 percent next
Tomey Supply Companys financial statements for the most recent fiscal year are shown below. The company projects that sales will increase by 27 percent next year. Assume that all costs and assets increase directly with sales. The company has a constant 32 percent dividend payout ratio and has no plans to issue new equity. Any financing needed will be raised through the sale of long-term debt. Prepare pro forma financial statements for the coming year based on this information, and calculate the EFN for Tomey
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