The financial statements for the year ended June 30, 2014, are given below for Morgan Construction Company. The firm's sales are projected to grow at a rate of 25 percent next year, and all financial statement accounts will vary directly with sales. Based on that projection, develop a pro forma balance sheet and an income statement for the 2015 fiscal year.

Morgan Construction Company
Income Statement for the Fiscal Year
Ended June 30, 2014
Net sales ................................... $193,212,500
Costs ........................................ 145,265,625
EBITDA .................................. $ 47,946,875
Depreciation ................................. 23,318,750
EBIT ....................................... $ 24,628,125
Interest ....................................... 11,935,869
EBT ....................................... $ 12,692,256
Taxes (35%) ................................. 4,442,290
Net income ................................. $ 8,249,966

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Morgan Construction Company Balance Sheet as of June 30,2014 Assets: Cash Accounts receivable Inventories Total current assets Liabilities and Stockholders' Equity: 3,349,239 Accounts payable 5,830,754 Notes payable 22.267,674 $9,041,679 4,857.496 $31,447,667 Total current liabilities $13,899,175 43,362,482 Long-term debt 29,731,406 19,987,500 12.940,974 $76,559,055 Net fixed assets Other assets 1,748,906 Common stock Retained earnings Total liabilities and equity Total assets $76,559,055