FINANCE Homework 3 Chapter 4 Quest 2. value 0.50 points Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes) Income Statement Sales Costs Balance Sheet Debt Equity $46,500 38,780 Assets $20,500 $ 6,500 14,000 $ 7,720 Net income Total $20,500 Total $20,500 The company has predicted a sales increase of 14 percent Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not Prepare the pro forma statements. (Round your answers to the nearest whole dollar amount.) Pro forma income statement Sales Pro forma balance sheet Assets Debt Costs Equity Net income Total Total Determine the external financing needed. (Negative amount should be indicated by a minus sign.) External financing needed References eBook & Resources Worksheet Leaning Objective: 04-01 How to apply the percen- sales method Difficulty: Basic Learning Objective: 04-02 How to compute the extes financing needed to fund a fim's growth Check my work e e Type here to search