Global Corp. expects sales to grow by 6% next year. Using the percent of sales method and the data provided in the given tables , forecast: a. Costs except depreciation e. Accounts receivable b. Depreciation f. Inventory c. Net income g. Property, plant, and equipment d. Cash h. Accounts payable (Note: Interest expense will not change with a change in sales. Tax rate is 25%. ) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. Income Statement (\$ million) Balance Sheet (\$ million)