What would be the solution for 31-32 and what is the explanation behind the solution?

BALANCE SHEET Actual Forecast S 200 100 200 500 800 1.000 1.800 Stected assumption for 2015 Sales growth rate Cout of goods sold Sales 6 Didende Net One 40+ INCOME STATEMENT Actual Forecast 7 2015 18 Sales $ 1.000 9/Cost of goods sold 600 Accounts Receivable 10 Operating expense Inwentory 11 Depreciation expense 100 Total Current Assets 12 EBIT 100 Net PPEE 13 Interest expense 35 Total Assets 14 Pre-tax income 15 Tax 300 Accounts Payable 16 Net Income 100 Bank loan Total Ourent Liabilities 400 400 Long-Term Debt Shareholders' Equity 1.000 Total Liabilities & Equy $ 1.800 (31) Please refer to the spreadsheet above. Selected assumptions are given for preparing pro forma financial statements for 2015. Assume that no new equity will be issued in 2015. When the pro formas are completed, which of the following formulas would correctly give the forecast for shareholders' equity in cell G19? A) =F19 + B4*C16 B) =F19*B2 C) =F19(1 + B2) D) =F19+ (1 - B4)*C16 E) None of the above. LOSL 31) 32) (32) Which of the following statements is correct if a firm's pro forma financial statements project net income of $12,000 and external financing required of $5,000? A) Dividends cannot exceed $10,000. B) Retained earnings cannot grow by more than $12.000. C) Long-term debt cannot grow by more than $5,000. D) Total assets cannot grow by more than $10,000