practice problems need help

The tax rates for a particular year are shown below: 23 Taxable Income Tax Rate $0 - 50,000 15% 50, 001 - 75,000 25% X 01:20:29 75, 001 - 100,000 34% 100, 001 - 335,000 39% What is the average tax rate for a firm with taxable income of $129,013?B C 24 3 The most recent financial statements for Hornick, Inc., are shown below (assuming no income taxes). Assets and costs are proportional to sales. Debt and equity are not No dividends are paid. Next year's sales are projected to be $8,968. What is the external financing needed? 01:19:51 Income statement Balance sheet Sales $ 7.600 Assets $ 21,700 Debt $ 9, 100 8 Costs 5,180 Equity 12,600 Net income $ 2,420 Total $ 21,700 Total $ 21,700 10 11 Next year's sales $ 8.968 12 13 14 Complete the following analysis. Do not hard code values in your calculations, 15 16 Percent increase in sales 17 18 Pro forma income statement Pro forma balance sheet 19 Sales Assets Debt 20 Costs Equity 21 Net income Total Total 22