Following is the income statement for Blockbuster, Inc. for the year ended December 31, 2016. Prepare forecasted income statements for the company for 2017 and 2018. BLOCKBUSTER, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands) Year ended December 31, 2016 2015 2014 Revenues $ 8,830,669 $ 6,779,511 $ 5,504,656 Cost of revenues 6,029,901 4,591,476 3,752,760 Marketing 991,078 824,092 607,186 Technology and development 852,098 650,788 472,321 General and administrative 577,799 407,329 269,741 Operating income 379,793 305,826 402,648 Other income (expense): Interest expense (150,114) (132,716) (50,219) Interest and other income(expense) 30,828 (31,225) (3,060) Income before income taxes 260,507 141,885 349,369 Provision for income taxes 73,829 19,244 82,570 Net income $ 186,678 $ 122,641 $ 266,799 Use the following assumptions to develop the forecasted income statements: Revenue growth 5.0% Costs to revenues 68.3% Marketing to revenues 11.2% Technology and development to revenues 9.6% General and administrative to revenues 6.5% Interest expense No change Interest and other income No change Provision for income taxes to Income before income taxes 34.3%