Assumptions:

Sales growth rates in each of next $3$ years: $15\%,33\%,40\%$

Operating expenses as $\%$ percentage of sales stays at $2023$ level for

$2024$ then goes down by $1\%$ in each of next two years $($so$,$ if was $20\%$

in $2023,$ forecast levels would be $\mathrm{.}20,\mathrm{.}19,\mathrm{.}18)$

Cost of goods sold as $\%$ of sales stays at $2023$ level for $2024$ and then

improves by $\mathrm{.}03$ in $2025$ and by another $\mathrm{.}03$ in $2026($remember$,$ this is

an expense, so improves means it goes down$)$

$40\%$ tax rate

No dividends or new stock issued

Interest expense fixed at $$400/$ year

Bank loan and LT debt stay constant

$2024$ A$/$R days $=$ year $2023$ days, then decrease by $3$ days in $2025$ &

another $3$ days in $2026$

$2024$ Inventory days $=$ year $2023$ days then decrease by $3$ days in

$2024$ & another $3$ days $2026$

A$/$P days stays at year $2023$ days

Net fixed assets and accruals: Use $2023\%$ of sales for $2024-2026$

Required cash fixed at $1000$

Calculate Additional Funds Needed as plug $($to get Balance Sheet to

balance!$)$