Company: Microsoft

\begin{tabular}{|l|r|r|r|r|r|} \hline \multicolumn{7}{|c|}{ Simplified Balance Sheet } \\ \hline & & & & & \\ \hline & 2021 & 2020 & 2019 & 2018 & 2017 \\ \hline & & Assets & & & \\ \hline other current asset & $184,406 & $181,915 & $175,552 & $169,662 & $162,696 \\ \hline Other long term asset & 149,373 & 119,396 & 111,004 & 89,186 & 87,616 \\ \hline Total asset & $333,779 & $301,311 & $286,556 & $258,848 & $250,312 \\ \hline \end{tabular} Liabilities \begin{tabular}{|l|c|c|c|r|r|} \hline Other current liabilities & $88,657 & $72,310 & $69,420 & $58,488 & $55,745 \\ \hline Other long term liabilities & 103,134 & 110,697 & 114,806 & 117,642 & 106,856 \\ \hline Total liabilities & $191,791 & $183,007 & $184,226 & $176,130 & $162,601 \\ \hline \end{tabular} \begin{tabular}{|l|r|rrrr|r|} \hline Total stockholders' equity & 141,988 & 118,304 & 102,330 & 82,718 & 87,711 \\ \hline \end{tabular} \begin{tabular}{|l|cc|c|c|c|} \hline \multicolumn{4}{c}{ Expenses } \\ \hline Operating expenses & $(45,940) & $(43,978) & $(39,974) & $(36,949) & $(33,285) \end{tabular} \begin{tabular}{l|llllllllll} Income before tax & $71,102 & $ & 53,036 & $ & 43,688 & $ & 36,474 & $ & 29,901 \\ \hline \end{tabular} \begin{tabular}{l|llll|ll|lll|} \hline Provision taxes & $ & (9,831) & $ & (8,755) & $ & (4,448) & $(19,903) & $ & (4,412) \\ \hline \end{tabular} \begin{tabular}{|llllll|} \hline Net income & 61,271 & 44,281 & 39,240 & 16,571 & 25,489 \\ \hline \end{tabular} 2) A projected Balance Sheet and Income Statement over the next five years b Look at three possible scenarios: - Steady growth. The average growth rate for each account over the last fve years. - Significant growth - A growth rate above the average. You determine what this rate should be, and must document the assumptions used to create this rate. - Stagnation - A lower growth rate than the average, - For all three, assume expenses and liabilities will grow at an inflation rate of 3% Provide a recommendation on which scenario you believe is most likely for your company. Justify your recommendation