Question: Pro Forma Statements consider the following simplified financial statements for the Parcells Corporation (assuming no income taxes): Parcells has predicted a sales increase of 10

Pro Forma Statements consider the following simplified financial statements for the Parcells Corporation (assuming no income taxes): Parcells has predicted a sales increase of 10 percent. It has predicted that every item on the balance sheet will increase by 10 percent as well. Create the pro forma statements and reconcile them. What is the plug variable here?

income Statement Balence Sheet Assets Sales $9,900 $5,100 4,800 $19,000 Debt Costs

income Statement Balence Sheet Assets Sales $9,900 $5,100 4,800 $19,000 Debt Costs Net income Equity $ 5,500 $,900 Total Total $9,900

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