The most recent financial statements for Scott, Inc., appearbelow. Interest expense will remain constant; the tax rate and thedividend payout rate also will remain constant. Costs, otherexpenses, current assets, fixed assets, and accounts payableincrease spontaneously with sales. Assume the firm is operating atfull capacity and the debt-equity ratio is held constant.

SCOTT, INC. 2019 Income Statement
  Sales				$	756,000
  Costs					612,000
  Other expenses					25,500
  Earnings before interest and taxes				$	118,500
  Interest expense					11,200
  Taxable income				$	107,300
  Taxes (23%)					24,679
  Net income				$	82,621
Dividends	$	41,340
Addition to retained earnings		41,281

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets		Liabilities and Owners’ Equity
  Current assets				  Current liabilities
    Cash	$	24,540		    Accounts payable	$	58,600
    Accounts receivable		33,890		    Notes payable		15,500
    Inventory		70,790		      Total	$	74,100
      Total	$	129,220		  Long-term debt	$	104,000
				  Owners’ equity
  Fixed assets				    Common stock and paid-in surplus	$	99,000
    Net plant and equipment	$	213,000		    Retained earnings		65,120
				      Total	$	164,120
  Total assets	$	342,220		  Total liabilities and owners’ equity	$	342,220

Complete the pro forma income statements below. (Do notround intermediate calculations. Round your answers to the nearestwhole dollar amount.)

Pro – Forma Income Statement
	10% Sales Growth	15% Sales Growth	40% Sales Growth
Sales
Costs
Other Expenses
EBIT
Interest Expense
Taxable Income
Taxes (23%)
Net Income
Dividends
Add to RE

Calculate the EFN for 10, 15 and 40 percent growth rates.(A negative answer should be indicated by a minus sign. Donot round intermediate calculations and round your answers to thenearest whole dollar amount.)

	10%	15%	40%
EFN