1. Calculate the FCF for each year

(in thousands of dollars) PROJECTED INCOME STATEMENT 2020 2021 2022 2023 2024 2025 500 12,000 14,250 14,500 14,750 Units sold Price per unit $ Revenues (thousands) COGS Gross profit SG&A Depreciation Pretax operating profit 28,999 $ 25.339 3,660 3,190 70,230$ 57,588 12,642 7,725 787 4,130$ 92,572 $ 75,908 16,663 8,794 758 7,111 $ 104,557 S 85.738 18,820 9,933 746 8,141 | $ 118,059 96.808 21,251 11,216 833 748 $ (363) $ 9,287 PROJECTED BALANCE SHEET 2020 2021 2022 2023 2024 2025 $ 600 $ $ S Assets Cash Accounts receivable Inventories Other current assets 290 2,415 5,063 600 702 $ 5,850 9,790 1300 926 7,719 12,919 1860 1,046 $ 8,709 14,575 2100 1,181 9,834 16,458 2400 2,000 Net plant and equipment 9800 6, 7,019 7,218 7,535 7,966 Liabilities Accounts payable 2.000 4800 6100 7200 7800