$AB$

C

D

E

F

$q,$

G

$1$

J

$2$

The most recent financial statements for Hornick, Inc., are shown below $($assuming no income taxes$).$ Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $$8,968.$ What is the external financing needed?

$4$

$5$

$6$

$7$

$8$

$9$

$10$

$11$

$12$

$13$

$14$

$15$

$\backslash$table$[[$Income statement,Balance sheet$],[$Sales$,$$$,7,600,$Assets,S$,21,700,$Debt,$$,9,100],[$Costs$,,5,180,,,,$Equity,,$12,600],[$Net income,S$,2\mathrm{.}420,$Total,S$,21,700,$Total,$$,21,700],[$Next year's sales,$$,8,968,,,,,,]]$

Complete the following analysis. Do not hard code values in your calculations.

$16$

$17$

$18$

$19$

$20$

$21$

$22$

Percent increase in sales

Pro forma income statement

Sales

Costs

Net income

External financing

Sheet$1$