Forecast the Income Statement for 2019 and 2020. Some assumptions are provided for forecasting the line items and some are not. you need to provide support for each projection made

2019 Income Statement Sales Less Cost of Sales Gross Margin Less Selling & Admin EBIT Less Interest EBT Less Tax Expense Net Income 2018 2020 106146? 83663? 22483? 16788? 5695? 700? 4995? 1700? 3295? Assumptions Sales Growth Operating Costs Interest Rate Income Tax Rate Dividend Payout Ratio 12% % of Sales Expected to remain unchanged from 2018 rate Expected to remain unchanged from 2018 rate 0.7