Hello, the following sheet will be utilized to fill in the sheet below with the shaded cells (all the way at the bottom). There are also instuctions provided for the problem, however, I'm not sure how to create a pro forma forecast for 2007, please assist me with filling in the spreadsheet at the bottom. Please provide formulas for your answers. Thanks!

Note- The comment given below, sales is listed in the spreadsheet below? Please advise, or be more detailed with what/if else is needed. Also, I changed the term of the loan from 20 days to 10 days per the instructions given below.

Exhibit 1 Operating Statements for Years Ending December 31, 2004-2006, and for the first quarter 2007 (thousands of dollars) Take Discount?Yes Exhibit 1 First Quarter 2006 $2,242 $1,818 Cash Flow Statement, years ending 12/31 Cash from Operations Net Income Depreciation Cash Net Income Chg in Accounts Receivable Chg in Inventory Chg in Accounts Payable Chg in Accrued Expenses Cash Flow from Operations 2005 2007 2005 2006 2007 TOTAL Net sales Cost of goods sold Gross profit on sales $1,624 $1,535 381 $499 S5 S320 80.3% $272 527 81.1% 82.1% (S44) $103) Operating expense Interest expense Net income before taxes 531 $8 S167 $1 $1 $2 Provision for income taxes Net income S30 Cash from Investing Activities Capital Expenditures Cash Flow from Investing Activities S50) S0 Exhibit 2 Balance Sheet as of December 31, 2004-2006 and March 31, 2007 (thousands of dollars) Cash from Financing Activities Borrowing/(Repayment) of Long-Term Debt Borrowing/(Repayment) of Line of Credit Cash Flow from Financing Activities Exhibit2 SS4) S35 $1 First Quarter 2007 2006 S23 2005 S53 $187 Accounts receivable Inventory Total current assets Net Change in Cash Beginning nce Ending Cash Balance $278 $562 $202 $103 $665 $755 $252 $252 (S1421 $187 Property & equipment Accumulated depreciation Total PP&E, net Sources & Uses of Cash Sources of Cash Cash Net Income Change in Accounts Payable Bank Borrowing (Line of Credit) (Increasel/Decrease in Ending Cash Balance Total Sources of Cash 2005 2006 2007 TOTAL $118 $131 5167 Total assets $36 $149 $120 $249 Accounts payable Line of credit payable Accrued expenses Long term debt, current portion Current liabilities $214 $117 Uses of Cash Change in Accounts Receivable Change in Inventory Change in Accrued Expenses Capital Expenditures Repayment of Long-Term Debt Total Uses of Cash $222 S44) ($103) SS4) $182 $404 ($101) S1 $50) $158 $128 S1 Long-term debt Total liabilities S0 (SS4) ($208) $213 $665 $243 $248 Net worth Total liabilities and net worth (S117)