******* I NEED TO SEE THE FORMULAS SO I CAN INPUT THEM ON MY END AND UNDERSTAND!!!!!

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1. Prepare the pro forma statements and determine the external financing needed Pro Forma Statements and EFN Excel HOME INSERT PAGE LAYOUT FORMULAS DATAREVIEW Sign In H Conditional Format as Cell Cells Editing Formatting" Table" Styles Paste Clipboard r A1 u- Num Alignment Num ber Font Styles A B Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes). The company has predicted a sales increase of 15 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 and determine the external financing needed 4 ome statement Balance shee 5,800 19,500 Assets $ 25,300 Debt 8 Sales 9 Costs 10Net income S 32,000 24.400 7,600 Equity Total $ 25.30-Total S- 2530- 12Sales increase 13 Payout rate 15% 50% 14 15 16Complete the following analysis. Do not hard code values in your answers 17