Help with filling in the blanks on this forecasting model

Part 2: Fundamentals of Forecasting Total 20 points Use the table below to answer the following questions. Dolphin: Income Statement and Balance Sheet 5 million Income statement Last year Current year Balance sheet Last year Current year Revenues 1,100 1,210 Operating cash 22 24 Cost of sales {770) (871) Excess cash and marketable securities 91 74 Selling, general, and administrative (165) (182) Accounts receivable 220 242 Depreciation (33) (35) Inventory 330 363 EBIT 132 121 Current assets 663 703 Interest expense {15) (15) Gain/(loss) on sale of assets - 10 Property, plant, and equipment 440 484 EBT 117 96 Equity investments 50 50 Taxes 35 25 Net income 32 57 Total assets 1,153 1,237 Dividends 33 27 Accounts payable 275 303 Short-term debt 90 90 Accrued expenses 165 182 Current liabilities 530 574 Long-term debt 210 210 Corn mon stock 100 100 Retained earnings 313 353 Total Iiablllties and equlty 1,153 1,237 Refer to the preceding income statement and balance sheet for Dolphin, Inc. to answer the following questions. Dolphin is a $600 million event promotion company that operates with a 30 percent operating tax rate. You are evaluating making an equity investment in Dolphin, and you want to develop a set of forecasted financial statements. As a start, analyze the historical Income Statement and Balance Sheet of Dolphin for the prior and current year by lling in the blanks in the following table. Insert the description of the typical analytical metric as well as the resulting calculation. Use percent instead of days for the working capital items. Some of the information has already been inserted for you. (8 Points) Dolphin Statement Analysis Typical Analysis Metric Result Line Item Last Year Current Year Revenues 96 change NA 10.0% Cost of Sales 5, G&A Depreciation Accounts Receivable Inventory Accounts Payable Accrued Expenses % of revenues Capital Expenditures Using the results calculated in the prior question, and assuming that the current year trends continue for the next year, fill in the blanks in the following table to project the Income statement, balance sheet items and cash flow for the first year forecast. (14 points) Forecast Line Item Forecast Driver Formula Current Year Year 1 Forecast Revenues % change 10.0% 1,210 1,331 Cost of Sales % of revenues 72.0% 871 S, G&A 182 Depreciation % of prior year PPE 36 EBIT Calculated n/a 121 Interest Expense % of prior year's debt 15 Pretax Income (excluding loss on sale of assets) Calculated 106 Taxes % of Pretax Income 30.0% 32 Net Income Calculated n/a 74 Balance Sheet Items Accounts Receivable 242 Inventory 363 Current operating assets Calculated n/a 605 Accounts Payable 303 Accrued Expenses 182 Current operating liabilities Calculated n/a 485 Net Operating Working Capital Calculated n/a 120 Property, Plant and Equip. Prior Year PPE - Dep. + Capex n/a 484 Cash Flow Net Income From above 74 Plus: Depreciation From above 36 Less: Capital Expenditures % of revenues 6.6% (80) (increase)/decrease in Net Working Capital Calculated (10) Free Cash Flow Available for Debt reduction Calculated n/a 20