The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant Costs, other expenses, current assets and accounts payable increase spontaneously with sales. SCOTT, INC. 2019 Income Statement Sales $763,000 Costs 598,000 Other expenses 34,000 Earnings before interest and taxes $131,000 Interest expense 30,000 Taxable income $101,000 Taxes (25%) 25,250 Net income $75,750 Dividends Addition to retained earnings $23,483 52,267 SCOTT, INC. Balance Sheet as of December 31, 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 22,240 Accounts payable $ 56,400 Accounts receivable 45.180 Notes payable 15,600 Inventory 107,960 Total $ 72,000 Total $ 175,380 Long-term debt $ 146,000 Fixed assets Net plant and equipment $439,000 Owners' equity Common stock and paid-in surplus Retained earnings es $ 122,500 273,880 Total $396,380 Total assets $ 614,380 Total liabilities and owners! equity $ 614,380 In 2019, the firm operated at 80 percent of capacity. Construct the pro forma income statement and balance sheet for the company. Assume that the company cannot sell fixed assets. This implies that asset utilization may remain less than 100 percent next year as well. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Pro Forma Income Statement Sales Costs Other expenses EBIT Interest Taxable income Taxes (25%) Net income Assets Current assets Cash Accounts receivable Inventory Total Pro Forma Balance Sheet Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity Fixed assets Net plant and equipment Total assets What is the EFN? (Do not round Intermediate calculations and round your answer to the nearest whole number, e.g. 32. A negative answer should be indicated by a minus sign.) EFN