Use Percent-of-sales forecast method. What is the projected Net Sales for 2019 for Firm A? historical...

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Use Percent-of-sales forecast method. What is the projected Net Sales for 2019 for Firm A? historical pattern observed from 2015 to 2018 will be applied to year 2019] Table 1. Consolidated income statements for Firm A as shown below (S in thousands): Net sales Cost of goods sold Gross profit Expenses 2015 2016 2017 2018 10,000 11,000 12,100 13,310 9,000 9,900 10,890 11,979 1,000 1,100 1,210 1,331 General, selling, and administrative expenses 500 550 592 665 Net interest expense 90 90 90 90 Earnings before tax 410 460 528 576 Tax 123 138 158.4 172.8 Earnings after tax 287 322 370 403 Use Percent-of-sales forecast method. What is the projected Net Sales for 2019 for Firm A? historical pattern observed from 2015 to 2018 will be applied to year 2019] Table 1. Consolidated income statements for Firm A as shown below (S in thousands): Net sales Cost of goods sold Gross profit Expenses 2015 2016 2017 2018 10,000 11,000 12,100 13,310 9,000 9,900 10,890 11,979 1,000 1,100 1,210 1,331 General, selling, and administrative expenses 500 550 592 665 Net interest expense 90 90 90 90 Earnings before tax 410 460 528 576 Tax 123 138 158.4 172.8 Earnings after tax 287 322 370 403