Prepare a pro forma balance sheet, assuming a sales increase of 15 percent, no new external debt or equity financing, and a constant payout ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.)

pro forma Balance sheet

                             oldincreased

assets    

non current assets  3780043470

net PPE                   3780043470

Current assets  1540017710

Inventory          900010350

Accounts receivable  39004485

cash                      2500  2875

total assets           5320061180

Equity & Liabilities    

common stock    1500015000

retained earnings  680013930

total                           2180028930

Liabilities    

long term debt  2400024000

Current liabilities  74007760

Accounts payable  24002760

notes payable  50005000

total                            5320060690

EFN = 61180 - 60690 = 490

PAYOUT RATIO = dividends / net income

additions to retained earnings = net income less dividends

Explanation

Retained earnings = old retained earnings plus additions to retained earnings = 6800 + 7130 =13930

Missing parts of the Question

Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION

Income Statement

 Sales    $48,500  

 Costs      34,500  

 Taxable income    $14,000  

 Taxes (35%)      4,900  

 Net income    $9,100  

     Dividends$2,900      

     Addition to retained earnings  6,200      

The balance sheet for the Heir Jordan Corporation follows.

HEIR JORDAN CORPORATION

Balance Sheet

Assets  Liabilities and Owners’ Equity  

 Current assets      Current liabilities    

   Cash$2,500      Accounts payable$2,400  

   Accounts receivable  3,900      Notes payable  5,000  

   Inventory  9,000        Total$7,400  

     Total$15,400    Long-term debt$24,000  

 Owners’ equity    

 Fixed assets        Common stock and paid-in surplus$15,000  

   Net plant and equipment$37,800      Retained earnings  6,800  

     Total$21,800  

 Total assets$53,200    Total liabilities and owners’ equity$53,200  

1.Prepare a pro forma balance sheet, assuming a 10 percent increase in sales, no new external debt or equity financing, and a constant payout ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

2.Calculate the EFN. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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