Prepare the pro forma statements

Reference no: EM13268520

Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $ 46,900 Assets $ 22,700 Debt $ 6,700 Costs 41,140 Equity 16,000 Net income $ 5,760 Total $ 22,700 Total $ 22,700 The company has predicted a sales increase of 18 percent. Assume Fire 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. (Round your answers to the nearest whole dollar amount.) Proform a income statement Pro forma balance sheet Sales $ Assets $ Debt $ Costs Equity Net income $ Total $ Total $ Determine the external financing needed. (Negative amount should be indicated by a minus sign.) External financing needed $.

Reference no: EM13268520

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