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Utilize the 2019 financial statements for Micron Industries provided on page 1 and assume that...

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Finance

Utilize the 2019 financial statements for Micron Industries provided on page 1 and assume that the company is currently operating below capacity, at 80%. Required: Prepare Pro-Forma statements for 2020 (rounding all figures to the nearest dollar) assuming: All costs/income/expenses and net working capital vary directly with sales/revenue. No new equity is raised. Sales are projected to increase by 15% The tax rate and the dividend payout ratio will remain constant. Interest Expense and Depreciation Expense will remain unchanged. Clearly state if Micron Industries will require external financing or would have excess financing in 2020, and how much.

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