For this assignment, you are the head of the budget committee for the chosen company from your previous assignments. Create a chart to convey the information in a chart or graphic format for each of the three stated assumptions below. The assumptions below will become part/support for the company strategic plan being developed. Incorporate each of your charts into a narrated PowerPoint presentation for the full strategic development committee.

1. Estimate the sales growth rate for the company for the next annual accounting period. Explain each step of your estimation process.
   1. Create proforma income statements and proforma balance sheets for your company for the next annual accounting period using the percent of sales method. Assume that all income accounts increase as a percent of sales, all asset accounts increase as a percent of sales, spontaneous liabilities increase as a percent of sales, and all financing accounts remain constant. The statements you create will be the initial round in order to determine the amount of working capital (cash, accounts receivable and inventory are the main categories of working capital) needed. Clearly identify what your statements indicate is the need for external short-term liabilities funds for the next annual accounting period (assume that current and quick ratios remain the same as prior years).