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 40,000 Assets $26,000 Deb7,000 19,000 Costs 34,160 Equity 19 Net income 5,840 Total $26,000 $26,00 The company has predicted a sales increase of 20 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 amouht.) Pro forma income statement Pro forma balance sheet Sales Assets Debt Equity Total Costs Net income Total What is the external financing needed? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign) External financing needed