## Answers

**Solution-**

**Sales increase** = [$7150 - $6500] /$6500

= 0.10 or 10%

Assets and costs increase proportionally , so the pro forma of financial statements will look like this -

**Pro forma income statement**

Sales | $7150 |

Cost [4610 *110%] | 5071 |

Net income | $2079 |

**Pro forma balance sheet**

Assets [26500 * 110%] | $29150 | Debt | $12500 |

Equity [Note] | 16079 | ||

Total | $29150 | Total | $28579 |

**Note** - Here , no dividends are paid . Equity account increase by net income, so-

**Equity** = $14000 + $2079

= $16079

**External financing needed** = Total assets - Total liabilities and equity

= $29150 - $28579

= $571

**Ans :-**

External financing needed | $571 |

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