The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expensewill remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, andaccounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued.HOPINGTON TOURS INC.2019 Statement of Comprehensive IncomeOther expensesEarnings before interest and taxesInterest paidTaxable incomeTaxes (30%)Net incomeDividendsAddition to retained earningsCurrent assetsAccounts receivableInventoryTotalFixed assetsNet plant and equipmentTotal assetsSalesCostsOther expensesEBITInterestTaxable incomeTaxes (30%)Net incomeAssetsDividendsAdd. to RECurrent assetsCashHOPINGTON TOURS INC.Pro Forma Statement of Comprehensive Income25 % SalesGrowth$Accounts receivableInventoryTotalTotal assetsFixed assetsNet plant and equipmentComplete the pro forma statement of comprehensive Income below. (Input all amounts as positive values. Omit $ sign in yourresponse.)EFN$20,32068,580HOPINGTON TOURS INC.Statement of Financial Position as of December 31, 2019AssetsCalculate the EFN for 25% growth rates.25%$ 26,00041,40087.600$155,000$300,400Complete the pro forma statement of financial position below.$750,000585,00021,908$144,00017,000$127,00038,100$ 88,900$455,400 Total liabilities and owners' equityFontCurrent liabilitiesAccounts payableNotes payableTotalLong-term debtOwners' equityCommon stock and paid-in surplusRetained earningsTotal$Liabilities and Owners' EquityHOPINGTON TOURS INC.Pro Forma Statement of Financial PositionCurrent liabilitiesAccounts payableNotes payableTotalLiabilities and Owners' EquityLong-term debtOwners' equityCommon stock and paid-in surplusRetained earningsTotal$ 68,70017,700$ 86,400$133,000Total liabilities and owners' equity$119,000117,000$236,000$455,400

The proforma income statement is given below:- 1. The expected sales = 750,000 + 25% = 937,500 2.…

The most recent financial statements for Hopington Tours Inc. follow. Sales for 2020 are projected to grow by 25%. Interest expense vill remain constant, the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, and accounts payable Increase spontaneously with sales. The firm is operating at full capacity and no new debt or equity is issued. HOPINGTON TOURS INC. 2019 Statement of Comprehensive Income Sales Costs Other expenses Earnings before interest and taxes Interest paid Taxable income Taxes (30%) Net income Dividends Addition to retained earnings Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Costs Other expenses EBIT Interest Taxable income Taxes (30%) Net income Assets Dividends Add. to RE Current assets Cash Accounts receivable Inventory Total HOPINGTON TOURS INC. Pro Forma Statement of Comprehensive Income 25% Sales Total assets Fixed assets Net plant and equipment $20,320 68,580 HOPINGTON TOURS INC. Statement of Financial Position as of December 31, 2019 EFN Assets $ 26,000 41,400 87,600 $155,000 Calculate the EFN for 25% growth rates. $300,400 Complete the pro forma statement of comprehensive income below. (Input all amounts as positive values. Omit $ sign in your response.) $455,400 Growth $ Complete the pro forma statement of financial position below. $ $ $750,000 585,000 21,000 $144,000 17,000 $127,000 38,100 $ 88,900 $ $ $ S $ Current liabilities payable Accou Notes payable Total Liabilities and Owners' Equity Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity HOPINGTON TOURS INC. Pro Forma Statement of Financial Position Liabilities and Owners Equity Current liabilities Accounts payable. Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 68,700 17,700 $ 86,408 $133,000 Total liabilities and owners' equity $119,000 117,000 $236,000 $455,400 $ $ $ $ S 3 3