FACEBOOK, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
			Year Ended December 31,
	2016		2015		2014
Revenue	$ 27,638		$ 17,928		$ 12,466
Costs and expenses:
Cost of revenue	3,789		2,867		2,153
Research and development	5,919		4,816		2,666
Marketing and sales	3,772		2,725		1,680
General and administrative	1,731		1,295		973
Total costs and expenses	15,211		11,703		7,472
Income from operations	12,427		6,225		4,994
Interest and other income/(expense), net	91		(31)		(84)
Income before provision for income taxes	12,518		6,194		4,910
Provision for income taxes	2,301		2,506		1,970
Net income	$ 10,217		$ 3,688		$ 2,940
dividend paid	$ (1,666)		$ -		$ -
Profit retained	$ 11,883		$ 3,688		$ 2,940
Assets
Current assets:
Cash and cash equivalents	$ 8,903		$ 4,907
Marketable securities	20,546		13,527
December 31, 2015, respectively	3,993		2,559
Prepaid expenses and other current assets	959		659
Total current assets	34,401		21,652
Property and equipment, net	8,591		5,687
Intangible assets, net	2,535		3,246
Goodwill	18,122		18,026
Other assets	1,312		796
Total assets	$ 64,961		$ 49,407
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$ 302		$ 196
Partners payable	280		217
Accrued expenses and other current liabilities	2,203		1,449
overdraft	0		0
Deferred revenue and deposits	90		56
Current portion of capital lease obligations	-		7
Total current liabilities	2,875		1,925
Capital lease obligations, less current portion	-		107
Other liabilities	2,892		3,157
Total liabilities	5,767		5,189
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital	38,227		34,886
Accumulated other comprehensive loss	(703)		(455)
Retained earnings	21,670		9,787
Total stockholders' equity	59,194		44,218
Total liabilities and stockholders' equity	$ 64,961		$ 49,407

Based on the 2016 financial report of facebook, forecast the financial performance in 2017, using sale-percentage forecasting method.

Hint: since there are only two years balance sheet, you just use the data available to do forecasting. It is totally fine.

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Sample Forecast

			Fiscal Year Ended February 28									Assumptions			Forecast
Income Statement			1999			2000			2001			20022004		2002	2003	2004
Turnover			303.7	100.0%		330.1	100.0%		374.1	100.0%		Growth	13.0%	422.7	477.7	539.8
Cost of sales			127.7	42.0%		130.9	39.7%		149.0	39.8%		% sales	40.0%	169.1	191.1	215.9
Gross profit			176.0	58.0%		199.2	60.3%		225.1	60.2%				253.6	286.6	323.9
Operating expenses
excluding exceptional costs			151.4	49.9%		166.2	50.3%		195.7	52.3%		% sales	52.0%	219.8	248.4	280.7
exceptional costs			4.5	1.5%		0.0	0.0%		11.2	3.0%		% sales	0.0%	0.0	0.0	0.0
Restructuring costs			16.6	5.5%		2.7	0.8%		1.0	0.3%		% sales	0.0%	0.0	0.0	0.0
Net interest expense			0.1	0.0%		1.5	0.5%		4.4	1.2%		% of debt	6.0%	3.4	4.1	4.8
Profit before tax (PBT)			3.4	1.1%		28.8	8.7%		12.8	3.4%				30.4	34.1	38.4
Tax expense			8.0	2.6%		10.4	3.2%		3.5	0.9%		% of PBT	30.0%	9.1	10.2	11.5
Profit/(loss) after tax			(4.6)	-1.5%		18.4	5.6%		9.3	2.5%				21.3	23.9	26.9
Ordinary dividends			10.9	3.6%		10.9	3.3%		10.9	2.9%		Constant	10.9	10.9	10.9	10.9
Profit/(loss) retained			(15.5)	-5.1%		7.5	2.3%		(1.6)	-0.4%				10.4	13.0	16.0
Balance Sheet
Cash			34.0	11.2%		19.2	5.8%		13.7	3.7%		Plug, min.10mm		4.7	10.0	10.0
Accounts receivable			27.8	9.2%		30.3	9.2%		30.3	8.1%		% sales	8.0%	33.8	38.2	43.2
Inventories			38.6	12.7%		44.7	13.5%		51.3	13.7%		% sales	13.7%	57.9	65.4	74.0
Other current assets			12.5	4.1%		15.6	4.7%		17.5	4.7%		% sales	4.7%	19.9	22.5	25.4
Net fixed assets			87.8	28.9%		104.7	31.7%		110.6	29.6%		% sales	30.0%	126.8	143.3	161.9
Other assets			0.0	0.0%		6.0	1.8%		6.7	1.8%		% sales	1.8%	7.6	8.6	9.7
Total assets			200.7	66.1%		220.5	66.8%		230.1	61.5%				250.7	288.0	324.2
Accounts payable			13.0	4.3%		20.5	6.2%		10.7	2.9%		% sales	4.0%	16.9	19.1	21.6
Taxes payable			11.3	3.7%		11.7	3.5%		7.1	1.9%		% sales	2.0%	8.5	9.6	10.8
Accruals			10.8	3.6%		15.6	4.7%		11.5	3.1%		% sales	3.5%	14.8	16.7	18.9
Overdrafts			0.0	0.0%		0.3	0.1%		0.7	0.2%		Plug		0.0	16.9	28.6
Other current liabilities			21.6	7.1%		13.3	4.0%		16.9	4.5%		% sales	4.0%	16.9	19.1	21.6
Long-term liabilities			28.0	9.2%		36.7	11.1%		61.2	16.4%		Fixed		61.2	61.2	61.2
Other liabilities			1.7	0.6%		1.0	0.3%		0.4	0.1%		% sales	0.1%	0.4	0.5	0.5
Shareholders' equity			114.3	37.6%		121.4	36.8%		121.6	32.5%				132.0	145.0	161.0
Total liabs. & equity			200.7	66.1%		220.5	66.8%		230.1	61.5%				250.7	288.0	324.2
												Trial assets		246.0	278.0	314.2
												Trial liabs. & equity		250.7	271.2	295.6
												Trial plug		(4.7)	6.9	18.6
												Min. cash blance		10.0	10.0	10.0
												Plug		5.3	16.9	28.6