I am really struggling to understand this assignment. I have tried my best to grasp the concepts, but I am still lost. I would be incredibly grateful if you could help me break down the assignment step by step. Please do not report my question; I am really in need of assistance. I added all the instructions I have, there is no missing information. I just need some guidance on how this is supposed to be done, please help me :(

Case Study Assignment You have recently been recruited by Velvet Chocolates Ltd, a chocolate manufacturer, as an assistant management accountant reporting to the Management Accountant, Zoe Taylor. Your role involves helping in the preparation of Jture budgets and forecasts. Up until now they have only produced annual Financial Statements and a simple budget, however, given the need for better forward plarming you have been asked to produce a ve year prot forecast (Income Statement) for the years 2024 to 2028 and a detailed monthly cash ow for next year 2024. Zoe, has determined the future cost estimates without discussing these with other managers. The increase in sales in future periods is based on estimates produced by the sales manager. More relevant information will be extracted from their estimated Income Statement 2023 sumrls tail in Appendix 1- Section 1: Management Accountant's cost estimates and Sales managers forecast information Velvet Chocolates Ltd manufactures deluxe chocolates sold in a premium box. All sales are to customers within the UK and the sales manager predicts sales for 2023 to be 245,000 boxes of chocolates. The sales are seasonal and the sales manager is optimistic that sales will grow at 5% per annum for the next ve years. The selling price is expected to remain at 18.50 per item. Cost of sales includes direct labour wages and raw materials and packaging. The boxes of chocolates are distributed to UK retailers using a distribution company that charges a fixed price per unit to deliver. Estimated shipping and distribution costs in 2023 are 0.50 per unit. These costs are expected to reduce in 2024 to 95% of the current level as fuel costs have fallen, in 2025 and onwards it is estimated the costs will inate by 2% per armum. Raw material prices are expected to increase by 8% in 2024, then by 6% per annum from 2025 . Packaging costs are 0.95 per unit. Packaging costs are expected to increase by 6% in 2024, then by 4% per annum from 2025. The fixed lease for the premises of 288,000 expires on 15-t September 2024. Anew 5 year lease has been agreed at a price of 312,000 p.a. The rent is paid quarterly in arrears. Rates are estimated as 40% of the rental value. Utility costs to inate by 3% pa. Direct labour Wages increase by 6% in 2024 and then by 3% per annum from 2025. Salaries to increase by 5% in 2024 and then by 3% per annum from 2025. Depreciation costs are expected to increase by 20% in 2024, then by 5% per armum from 2025. All other overheads are expected to increase in-line with UK ination of 2.5% per annum