please show work.

Chapter 4: 1. Fire Corp financial statements: Pro forma balance sheet $ 25300 Debt $ Assets 5800 Pro forma income statement Sales $ 32000 Costs 24400 Net income $ 7600 Equity 19500 Total $ 25,300 Total $25,300 It expects 15% sales increase. It also predicts every item on the balance sheet will increase by 15% as well. It currently pays no dividend. a) Create the pro forma income statement and balance sheet with the new sales level. b) What's the retained earnings? and new equity level? c) With no dividend, debt is the plug variable. what's the new debt level? d) If Fire Corp decides to pay half of income as dividend, cost and assets vary with sales, but not debt and equity, what's the EFN