Do a prospective analysis on Netflix, Inc. projecting the next year income statement and using this product to calculate valuation of the company stock going forward with some narrative explaining what parameters you used and any adjustments you made.

NETFLIX INC (NFLX) CashFlowFlag INCOME STATEMENT
Fiscal year ends in December. USD in millions except per share data.	2012-12	2013-12	2014-12	2015-12	2016-12	TTM
Revenue	3609	4375	5505	6780	8831	10190
Cost of revenue	2626	3083	3753	4591	6030	6747
Gross profit	983	1291	1752	2188	2801	3443
Operating expenses
Research and development	329	379	472	651	852	965
Sales, General and administrative	604	684	877	1231	1569	1833
Total operating expenses	933	1063	1349	1882	2421	2799
Operating income	50	228	403	306	380	645
Interest Expense	20	29	53	133	150	226
Other income (expense)	0	-28		-31	31	-11
Income before taxes	30	171	349	142	261	407
Provision for income taxes	13	59	83	19	74	45
Net income from continuing operations	17	112	267	123	187	362
Net income	17	112	267	123	187	362
Net income available to common shareholders	17	112	267	123	187	362
Earnings per share
Basic	0.04	0.28	0.63	0.29	0.44	0.85
Diluted	0.04	0.26	0.62	0.28	0.43	0.82
Weighted average shares outstanding
Basic	389	407	421	426	429	430
Diluted	412	425	432	436	439	443
EBITDA	96	249	3184	337	468	695