Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales...

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Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales Costs Taxable Income Taxes(35%) Net Income $47,000 31,300 $15,700 5,495 $10,205 Dividend $2,500 7,705 Addition to retained earnings The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Current assets Liabilities and Owner's Equity Current liabilities Cash $2,950 Accounts Receivable Account receivable 4,100 Notes Payable Inventory Total 6,400 Total $13,450 Long-term debt $2,400 5,400 $7,800 $28,000 Owner's Equity Fix assets Common stock and paid-in surplus $15,000 Net plant and equipment $41,300 Retained earnings 3,950 Total $18,950 Total assets $54,750 Total liabilities and Owner's Equity $54,750 prepare a pro forma balance sheet showing EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales Costs Taxable Income Taxes(35%) Net Income $47,000 31,300 $15,700 5,495 $10,205 Dividend $2,500 7,705 Addition to retained earnings The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Current assets Liabilities and Owner's Equity Current liabilities Cash $2,950 Accounts Receivable Account receivable 4,100 Notes Payable Inventory Total 6,400 Total $13,450 Long-term debt $2,400 5,400 $7,800 $28,000 Owner's Equity Fix assets Common stock and paid-in surplus $15,000 Net plant and equipment $41,300 Retained earnings 3,950 Total $18,950 Total assets $54,750 Total liabilities and Owner's Equity $54,750 prepare a pro forma balance sheet showing EFN, assuming a 15 percent increase in sales, no new external debt or equity financing, and a constant payout ratio.