Fiscal Year Ending:	12/31/2019	12/31/2018	12/31/2017	12/31/2016	Revenue Growth and Common Size Values (% of Revenue)
	FY 2019	FY 2018	FY 2017	FY 2016	FY 19	FY 18	FY 17	FY 16
Total Revenue	$280,522,000	$232,887,000	$177,866,000	$135,987,000	73.35%	74.36%	77.13%	77.86%
Cost of Revenue	$205,768,000	$173,183,000	$137,183,000	$105,884,000	26.65%	25.64%	22.87%	22.14%
Gross Profit	$74,754,000	$59,704,000	$40,683,000	$30,103,000	21.46%	20.30%	20.56%	19.06%
Total Operating Expenses	$60,213,000	$47,283,000	$36,577,000	$25,917,000	5.18%	5.33%	2.31%	3.08%
Operating Income or Loss	$14,541,000	$12,421,000	$4,106,000	$4,186,000	0.07%	-0.08%	0.19%	0.07%
Total Other Income/ Expenses Net	$203,000	$-183,000	$346,000	$90,000	5.18%	5.33%	2.31%	3.08%
Earning Before Interest and Taxes (EBIT)	$14,541,000	$12,421,000	$4,106,000	$4,186,000	0.85%	1.02%	1.33%	1.75%
Income Tax Expense	$2,374,000	$2,374,000	$2,374,000	$2,374,000	4.13%	4.98%	6.52%	8.52%
Net Income	$11,588,000	$11,588,000	$11,588,000	$11,588,000	73.35%	74.36%	77.13%	77.86%

Produce forecasted income statements for future years 2020-2022 using your revenue growth projections and common-sized balance sheet. Adjust items in income statement based on trends you see in past data, competitors, and the economy as a whole.

how do you calculate the % of revenue? Correct the incorrect percentages.