Problem 17-20 Capacity Usage and Growth (LO4, CFA9) The most recent financial statements for Moose Tours, Inc., follow. Sales for 2017 are projected to grow by 15 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable increase spontaneously with sales MOOSE TOURS, INC. 2016 Income Statement $ 995,000 Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes ( 35% ) Net income (782,000) 15,000) $ 198,000 (21,670 176,330 61,716 $114,615 45,700 68,915 Dividends Addition to retained earnings MOOSE TOURS, INC. Balance Sheet as of December 31, 2016 Liabilities and Owners' Equity Assets Current liabilities Current assets $ 27,500 47,300 83,600 $ 71,500 9,900 $ 81,400 171,600 Cash Accounts receivable Inventory Accounts payable Notes payable rotal Total Fixed assets $ 158,400 Long-term debt Owners' equity Ch 45,700 68,915 Dividends Addition to retained earnings MOOSE TOURS, INC. Balance Sheet as of December 31, 2016 Liabilities and Owners' Equity Assets Current liabilities Current assets $ 27,500 47,300 83,600 $ 71,500 9,900 $ 81,400 171,600 Cash Accounts receivable Inventory Accounts payable Notes payable Total Total Fixed assets 158,400 Long-term debt Owners' equity 23,100 d equipment $ 400,400Retained ock and paid-in surplus Retained earnings Net plant and equipment $400,400 282,700 305,800 558,800 Total liabilities and owners equity 558,800 Total Total assets Suppose the firm was operating at only 90 percent capacity in 2017. What is the EFN now? (A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to the nearest whole number.) EFN