Construct a first-quarter 2018 cash flow forecast for Westmark Industrial based on Income Statement and Balance Sheet

The income statement is prepared as follows: WI Incorporation Income Statement January 1,2015 March 31,2015 (S thousands) Net sales Cost of sales Gross profit Selling and administrative expense Interest Depreciation Net profit before tax Tax at 33% Net profit after tax Less: Dividends Additions to retained earnings $1,080 540 540 540 90 30 (120) (40) (80) 300 (380) The balance sheet of WI as on March 31, 2015 will be prepared as follows: WI Incorporation Balance sheet As on March 31,2015 (S thousands) Assets Cash Accounts receivable Inventory (1,800+540-540) Total current assets Gross fixed asset Less: accumulated depreciation Net fixed asset Total assets Liabilities Bank loan Accounts payable Miscellaneous accruals Current portion of long term debt Taxes (300-180-40) Total current liabilities Long term debt Shareholder's equity Total liabilities and equity $150 192 1.800 2,142 900 180 720 2,862 1,362 240 60 0 80 1,742 990 130 2,862 The income statement is prepared as follows: WI Incorporation Income Statement January 1,2015 March 31,2015 (S thousands) Net sales Cost of sales Gross profit Selling and administrative expense Interest Depreciation Net profit before tax Tax at 33% Net profit after tax Less: Dividends Additions to retained earnings $1,080 540 540 540 90 30 (120) (40) (80) 300 (380) The balance sheet of WI as on March 31, 2015 will be prepared as follows: WI Incorporation Balance sheet As on March 31,2015 (S thousands) Assets Cash Accounts receivable Inventory (1,800+540-540) Total current assets Gross fixed asset Less: accumulated depreciation Net fixed asset Total assets Liabilities Bank loan Accounts payable Miscellaneous accruals Current portion of long term debt Taxes (300-180-40) Total current liabilities Long term debt Shareholder's equity Total liabilities and equity $150 192 1.800 2,142 900 180 720 2,862 1,362 240 60 0 80 1,742 990 130 2,862