Problem 4-2 Pro Forma Statements and EFN [LO1, 2] Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Balance Sheet Income Statement Sales Costs $34,000 Assets $26,500 Debt $ 7,000 19,500 27,330 Equity Net income 6,670 Tota$26,500 Total $26,500 The company has predicted a sales increase of 15 percent. Assume Yoo 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. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Pro forma income statement Pro forma balance sheet Sales 1,000Assets Debt Costs Equity Net income Total Total What is the external financing needed? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign.) External financing needed