Please do 19.1

Show the work and dont make it too LONG and please make sure its correct!!

Self-Study Problems 19.1 The Starlight, Inc., financial statements for the fiscal year June 30, 2017, are presented below. The firm's sales are projected to grow at a rate of 20 percent next year, and all financial statement ac counts will vary directly with sales. Based on that projection, develop a pro forma balance sheet and income statement for the fiscal year ending June 30. 2018. Starlight, Inc., Balance Sheet as of June 30, 2017 Liabilities and Stockholders Equity Assets: Cash Accounts 67.855 36,454 s 25,135 Accounts payable 43,758 Notes payable receivable Inventories 167,112 Total current $236.005 Total current $104,309 liabilities Long-term debt Common stock assets 325,422 13.125 $574,552 Net fixed 223.125 assets Other assets 150,000 Retained earnings 97.118 Total liabilities $574,552 Total assets and equity Starlight, Inc., Income Statement for the Fiscal Year Ended June 30, 2017 Net sales Costs EBITDA Depreciation EBIT Interest EBT Taxes (35%) Net income $1,450,000 812.500 s 637,500 175.000 S 462,500 89.575 s 372.925 130.524 S 242.401