Help Save & Ext Submit You are preparing pro forma financial statements for 2017 using the percent-of-sales method Sales were $100,000 in 2016 and are projected to be $120,000 in 2017. Net income was $5,000 in 2016 and is projected to be $6,000 in 2017 Equity was $45.000 at year-end 2015 and $50,000 at year-end 2016. Assuming that this company never issues new equity, never repurchases equity, and never changes its dividend payout ratio, what would be projected for equity at year-end 2017? Multiple Choice 555.000 560 000 Insufficient information provided to project equity in 2017 ***