Problem 4-2 Pro Forma Statements and EFN (LO1, 2] Consider the following simplified financial statements for the Yoo Corporation (assuming no income taxes): Income Statement Sales $46,500 Costs 38,780 Balance Sheet Assets $20,500 Debt Equity $ 6,500 14,000 Net income $ 7,720 Total $20,500 Total $20,500 The company has predicted a sales increase of 14 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 Sales $ Costs Assets Pro forma balance sheet $ Debt 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 $