Calculating EFN- Excel Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW |Caliri Paste B 1 u . e- . Alignment Number Conditional Formatas. Cell , cells Editing : Formatting Table Styles Style Al K 4 E F 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? | Balance sheet Income statement 7Sales Costs 7,600 5,180 2,420 Assets S 21,700 Debt $ Total S 9,100 12,600 21700 Total S 21.700 Equity 9 Net income 10 11Next years sales 8,968 12 13 14 Complete the following analysis. Do not hard code values in your calculations. 15 6Percent increase in sales 17 18 19 Sales 20 Costs 2Net income Pro forma balance sheet Pro forma income statement Debt Equity Total sets Total