Can somebody help me with this ? I did some work but I feel like is not entirely correct.

I need help creating a forecast for a corporation using this spreadsheet template. I have to input the following as assumptions in the assumption part of the spreadsheet and then reference those cells when projecting the appropriate income statement, balance sheet, or break-even account. No hard code numbers into projections.

I need to project 2018 - 2020 Income Statement and Balance Sheet for the company.

Assumptions:

Sales growth rates in each of next 3 years: 15%, 20%, 25%

Gross margin and operating expenses/sales percentage stay at 2017 level

40% tax rate

No dividends

Interest expense fixed at $400 / year

Bank loan, LT debt, and common stock stay constant

Accounts receivable: for 2018 use year 2017 DSO, then decrease by 3 days in 2019 and by another 2 days in 2020

Inventory: for 2018 use year 2017 DII, then decrease by 2 days in 2019 and another 2 days in 2020

A/P days stays at year 2017 days

Net fixed assets and accruals keep relationship with sales

surplus cash will be ignored

Required cash fixed at 1000

Calculate Additional Funds Needed as plug (to get Balance Sheet to balance!)

also need to calculate 2017 breakeven revenues and units.

Assumptions:

All operating expenses are fixed

Average price per unit is $50

Thank you!