Complete the following to determine the net income for each year: (Round to the nearest integer)

Under the assumption that KMS's market share will increase by 0.23% per year, you determine that the plant will require an expansion in 2021. The expansion will cost $21.5 million. Assume the following: the debt financing of the expansion will be delayed accordingly (end of 2021). KMS uses a ten-year bond, interest rates remain the same at 7.3%, and KMS's tax rate is 25%. KMS projects the following depreciation: (Click on the following icon in order to copy its contents into a spreadsheet) 2019 2020 2021 2022 2023 2024 Depreciation (000) $5.522 55.465 $7,426 $7.430 $7,543 $7.586 Using this information and the data given here project net income through 2024 The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. Complete the following to determine the net income for each year. (Round to the nearest Integer.) E A Current values (000) Outstanding Debt Interest on Debt B C D E F G 2019 2020 2021 2022 2023 2024 $4,775 $4,775 $4,775 $4,775 $4,775 $4,775 $349 $349 $349 $349 $349 $349 2019 2020 $74,950 $82,415 -60710 -66756 2021 2022 2023 2024 $90,425 $99,520 $108,601 $119,020 -73244 -80611 -87967 -96406 Income Statement (000) Sales Cost of Goods Sold EBITDA Depreciation EBIT Interest Expense Pre-tax Income Taxes Net Income ? ? ? ? ? ? Income Statement (000) 2019 Sales $ 74,950 Cost of Goods Sold (60,710) EBITDA Depreciation $ s S s EBIT Interest Expense Pre-tax Income Taxes $ Net Income