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Consider the following simplified financial statements for theWims Corporation (assuming no income taxes)Income StatementBalance Sheet Sales$45,700 Assets$21,900 Debt$5,900 Costs40,100 Equity16,000 Net income$5,600 Total$21,900 Total$21,900The company has predicted a sales increase of 6 percent. Assumethe company pays out half of net income in the form of a cashdividend. Costs and assets vary with sales, but debt and equity donot.Prepare the pro forma statements. (Input all amounts aspositive values. Do not round intermediate calculations and roundyour answers to the nearest whole dollar amount.)Consider the following simplified financial statements for theWims Corporation (assuming no income taxes):Income StatementBalance Sheet Sales$45,700 Assets$21,900 Debt$5,900 Costs40,100 Equity16,000 Net income$5,600 Total$21,900 Total$21,900The company has predicted a sales increase of 6 percent. Assumethe company pays out half of net income in the form of a cashdividend. Costs and assets vary with sales, but debt and equity donot.Pro forma income statementPro forma balance sheetSalesAssetsDebtCostsEquityNet incomeTotalTotalWhat is the external financing needed? (Do not roundintermediate calculations. A negative answer should be indicated bya minus sign.)