Facts and Assumptions
Year	2014	2015	2016
Net sales	$20,613
Growth rate in sales		25%	30%
Cost of goods sold/net sales		86%	86%
Gen., sell,, and admin. expenses/net sales		12%	11%
Long-term debt	$ 760	$ 660	$ 560
Current portion long-term debt	$ 100	$ 100	$ 100
Interest rate		10%	10%
Tax rate		45%	45%
Dividend/earnings after tax		50%	50%
Current assets/net sales		29%	29%
Net fixed assets		$ 280	$ 270
Current liabilities/net sales		14.5%	14.4%
Owners' equity	$ 1,730
INCOME STATEMENT
Year	2014	Forecast 2015	2016
Net sales		$25,766
Cost of good sold		22,159
Gross profit		3,607
Gen., sell,, and admin. exp.		3,092
Interest expense		231
Earnings before tax		285
Tax		128
Earnings after tax		156
Dividends paid		78
Additions to retained earnings		78
BALANCE SHEET
Current assets		$ 7,472
Net fixed assets		280
Total assets		7,752
Current liabilities		3,736
Long-term debt		660
Equity		1,808
Total liabilities and shareholders' equity		6,204
EXTERNAL FUNDING REQUIRED		$ 1,548

Calculate the 2016 forcast