ABC Corporation is forecasting its financial performance for the next year. Based on market trends and internal analysis, the company expects the following:

• Sales Revenue Growth: 10%
• Cost of Goods Sold as a Percentage of Sales: 60%
• Operating Expenses: $300,000
• Interest Expense: $25,000
• Tax Rate: 30% of Net Income

• Prepare the forecasted income statement and balance sheet for ABC Corporation.