Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes):
Income Statement Balance Sheet
Sales $ 39,600 Assets $ 23,800 Debt $ 6,800
Costs 31,800 Equity 17,000
Net income $ 7,800 Total $ 23,800 Total $ 23,800
The company has predicted a sales increase of 20 percent. It has predicted that every item on the balance sheet will increase by 20 percent as well.
Create the pro forma statements and reconcile them. (Input all answers as positive values. Do not round intermediate calculations.)
