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If the sales growth rate continues, in which year the Sales cross $2 million? Please provide the excel function or formula to get the answer?

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If the sales growth rate continues, in which year the Sales cross $2 million?

Please provide the excel function or formula to get the answer?

D 2015 Growth Rate 24.63% A B 1 Winter Park Web Design 2 Income Statements 3 For the Years 2015 and 2016 4 2016 5 Sales $ 280,419 $ 6 Cost of Goods Sold 154,229 7 Gross Profit 126,191 8 Depreciation Expense 5,295 9 Selling & Admin Expense 825 10 Net Operating Income 120,071 11 Interest Expense 1,020 12 Earnings Before Taxes 119,051 13 Taxes 44,049 14 Net Income 75,002 15 16 Notes: 17 Tax Rate 37.0% 18 Shares Outstanding 7,500 19 Earnings per Share $ 10.00 $ 20 Dividends per Share $6.00 21 Addition to RE per Share $ 4.00 $ 225,000 123,750 101,250 4,646 720 95,884 810 95,074 33,276 61,798 35.0% 7,500 8.24 $5.00 3.24

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