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Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales Cost $49,000 40,300 Taxable income Taxes (22%) $ 8,700 1,914 Net income $ 6,786 $2,400 Dividends Addition to retained earnings 4,386 The balance sheet for the Heir Jordan Corporation follows HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current liabilities Current assets Cash Accounts $2,400 $ 2,950 Accounts payable 4,100 Notes payable 5,400 receivable Inventory 6,400 Total $ 7,800 HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current liabilities Current assets Cash Accounts $ 2,950 Accounts payable 4,100 Notes payable $2,400 5,400 $ 7,800 $28,000 receivable Inventory 6,400 Total Total $13,450 Long-term debt Owners' equity Common stock and paid- $15,000 3,950 18,950 $54,750 Fixed assets Net plant and equipment in surplus $41,300 Retained earnings Total Total assets $54,750 Total liabilities and owners' equity 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.) HEIR JORDAN CORPORATION Pro Forma Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Accounts payable Cash Accounts receivable Inventory 3,410.00 Notes payable Total Long-term debt Owners' equity Total Fixed assets Common stock and paid-in surplus Retained earnings Net plant and equipment Tota Total assets Total liabilities and owners' equity Calculate the EFN. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) EFN

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