Clickhereto download theselected financial statements for Micro Chip Computer Corporation. Answer questions 1 and 2 below based on the financial data.

1. Determine the year-to-year percentage annual growth in total net sales.
2. Based only on your answers to question #1, do you think the company achieved its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company hit its target.

Next, consider Micro Chip's Consolidated Statement of Operations for the year ended September 25, 2008.Download the filehereand answer questions 1 and 2.

1. Use the Percentage Sales Method and a 25% increase in sales to forecast Micro Chip's Consolidated Statement of Operations for the period of September 26, 2008 through September 25, 2009. Assume a 15% tax rate and restructuring costs of 5% of the new sales figure.
2. Discuss your results from question number #1. What assumptions have you made? Do any of your assumptions seem unreasonable?

To receive full credit on this assignment, please show all work, including formulae and calculations used to arrive at the financial values. Students using Microsoft Excel must provide an adequate explanation of the methodology used to arrive at that answer.

Micro Chip Computer Corporation Selected Financial Data 2008 2007 2006 2005 2004 Micro Chip Computer Corporation Consolidated Statements of Operations For the period September 26, 2007 through September 25, 2008 Sales $8,334.00 Cost of Sales $5,458.00 Gross Margin $2,876.00 Operating expenses: R & D $525.00 Selling, General, and $691.00 Administrative Inprocess R & D Restructuring costs Total Operating Exp $1,216.00 Operating income $1,660.00 Total interest and other $194.00 Income net Income before provision $1,854.00 for Income taxes Provision for income $278.10 Taxes (15%) Net income $1,575.90