Hello,

Could you please help me with the assignment?

I do not understand why my answers are incorrect.

Thanks,

TA

Income Statement Balance Sheet Sales $38,000 Assets $27,300 Debt $ 6,700 Costs 32,600 Equity 20,600 Net $ 5,400 Total $27,300 Total $ 27,300 income The company has predicted a sales increase of 15 percent. Assume Wims 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. (Input all amounts as positive values. Do not round intermediate calculations.) x Answer is complete but not entirely correct. Pro forma income statement Pro forma balance sheet Sales $ 43,700 Assets $ 31,395 Debt $ 7,705 X Costs 37,490 Equity 23,690 Net income $ 6,210 Total $ 31,395 Total $ 31,395 X Determine the external financing needed. (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) x Answer is complete but not entirely correct. External financing needed $ 5,700 X