Following are the Condensed Financial Statements for Akil Inc. for 2018 (actual). Balance Sheet 2018 Net Operating Working Capital 2,500 Net Long-Term Operating Assets 7,000 Net Operating Assets 9,500 Net Financing Liabilities Common Shareholders' Equity Net Debt & Equity (or Net Capital) 3,000 6,500 9,500 Income Statement Net sales Net operating profits after tax Net interest expense after tax Net income 2018 40,000 2,750 170 2,580 Forecast Sales and NOPAT of the income statement and NOA of the balance sheet for Aki Inc. for 2019 to 2023. Following are some assumptions for the next five years. (Note: there are extra assumptions that you will not need) 2019 2020 2021 2022 2023 Thereafter Sales Growth 10.0% 10.0% 8.0% 6.0% 6.0% 0.0% Gross Margin 19.5% 19.5% 19.0% 19.0% 19.0% 19.0% NOPAT Margin (PM) 6.5% 6.5% 6.5% 5.5% 5.5% 5.5% Current Ratio 2.1 2 2 2 1.9 1.92 Net Operating Assets Turnover (ATO) 4.5 4.5 4.4 4.4 4.4 4.4 Operating LT Assets/Sales 15.0% 15.0% 15.0% 14.5% 14% 14% Net Debt/Capital 33.0% 33% 31% 31% 31% 31% After Tax Cost of Debt 6.0% 6.0% 6.0% 6.0% 6.0% 6.0% Tax Rate 24.0% 24.0% 24.0% 24.0% 24.0% 24.0%