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  3. consider the following simplified financial statem

Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes): Income Statement   Sales $38318   Costs $24483 Balance Sheet   Assets $56924   Debt $37803 Equity ? The...

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Consider the following simplified financial statements for theFire Corporation (assuming no income taxes):

Income Statement
  Sales$38318
  Costs$24483
Balance Sheet
  Assets$56924  Debt$37803
Equity?

The company has predicted a sales increase of 14 percent. It haspredicted that every item on the balance sheet will increase by 14percent as well.

What is the pro forma net income?

Answer & Explanation Solved by verified expert
4.0 Ratings (561 Votes)
answergiven datathe sales is 38318the costs is 24483the predicted sales are increase is 14 the    See Answer
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