Given the following assumptions, prepare both the pro forma income s

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Given the following assumptions, prepare both the pro forma income statement and balance sheet for Enterprises in 2016. Revenues are expected to grow by 20% in 2016 The income statement expenses are a constant percentage of revenues except for interest, which remains equal in dollar amount to the 2015 level, and taxes, which equal 40% of earnings before taxes. The cash and marketable securities balance remain equal to $500, and the remaining current asset accounts increase in proportion to revenues for 2015. Net property, plant, and equipment increase in proportion to the increase in revenues and depreciation expenses for 2016 is $2,000. Accounts payable increases in proportion to firm revenues. No cash dividends are paid and no issuance of additional equity in 2016. Long-term debt remains unchanged, and short-term debt changes in an amount that balances the balance sheet. The balance sheet and income statement for Enterprises Inc. are found below:
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