Does preferred stock chang ein the pro forma balance sheet or stay the same? so my question is does the preferred stock have to be multiplied by the sustainable growth rate or not?

4. Calculate the sustainable growth rate for East Coast Yachts. Calculate the EFN and prepare pro forma income statements and balance sheets assuming growth at precisely this rate. Recalculate the ratios in the previous question. What do you observe?
Sustainable Growth Rate =		15.71%
The sustainable growth rate is the growth rate the company can achieve with no external financing while maintaining a constant debt-equity ratio.
At the sustainable growth rate, the pro forma statements next year will be:
Income statement			East Cost Yachts
Sales	$707,661,532		2017 Balance Sheet
COGS	$498,717,043		Current Assets			Current liabilities
Other expenses	$84,567,463		Cash and equivalents	$ 12,866,605		Accounts payable	$ 51,446,460
Depreciation	19,958,400		Accounts receivable	$ 21,616,364		Accrued expenses	$ 6,123,200
EBIT	$101,283,161		Inventory	$ 23,315,160		Total current liabilities	$ 57,569,660
Interest	11,000,000		Other	$ 1,356,353
Taxable income	$90,283,161		Total current assets	$ 59,154,481
Taxes (40%)	36,113,265					Long-term debt	$ 169,260,000
Net income	$54,169,897		Fixed assets			Total long-term liabilities	$ 169,260,000
Dividends	$21,667,959
Add to RE	$32,501,938					Stockholders' equity
						Preferred stock
						Common stock	$ 37,583,700
						Capital surplus	$ 28,116,300
						Accumulated retained earnings	$ 194,065,938
						Less treasury stock	(47,520,000)
						Total equity
			Total assets			Total liabilities and shareholders' equity