Income Statement 2021 ($) /2020 ($) Sales 47,716 /40,343

Cost of goods sold 23,977 / 22,444

Gross profit 18,739 / 17,899

Selling, general and administrative expense 6,531 / 6,469

Depreciation and amortization expense 1,464 / 1,277

Interest expense 342 / 329

Income before tax 10,402 / 9,824

Income tax expense 3,121 /3,002 Net income 7,282 / 6,822

Outstanding shares 2,976 / 2,968 Balance Sheet Cash 3,288 /4,255

Receivables 5,215 /5,262

Inventories 3,579 /3,022

Other current assets 880 /1,059

Total current assets 12,961 /13,598

Property, plant and equipment 18,956 /16,707

Accumulated depreciation 5,853 / 5,225

Net property, plant and equipment 13,103 /11,482

Other noncurrent assets 17,942 /15,075

Total assets 44,006 / 40,155

Account payable and accrued liabilities 5,904 /5,391

Short-term debt and current maturities of

long-term debt 4,067 / 3,319

Income taxes payable 1,573 /1,244

Total current liabilities 11,544 /9,954

Deferred income taxes and other liabilities 11,614 /11,768

Long-term debt 4,799 / 3,601 Total noncurrent liabilities 16,413 /15,369

common stock 30 /30

capital surplus 6,907 /6266

Retained earning 31,500 /27,935

Treasury stock (22,387) /(18,858)

shareholders' equity 16 050 /14 833

total liablilities and equity 44 007 /40 154

Using the following forecasted information for year 2022, Sales growth Gross profit margin Selling, general and administrative expense Depreciation expense/Prior-year property, plant and equipment (gross) Interest expense/Prior-year long-term debt Income tax expense/Pretax income Account receivable turnover (Sales/Account receivable) Inventory turnover (Cost of goods sold/Inventory) Accounts payable turnover (Cost of goods sold/Accounts payable) Taxes payable/Tax expense Total assets/Stockholder's equity (Financial leverage) Dividends per share Capital expenditures/Sales COR Prepare a projected sttements for yer ended 2022: a. Income statement b. Statement of financial Position c. Statement of Cash Flow d. Analyze the estimated cash balance 18.27% 39.27% 13.69% 8.76% 4.94% 30.00% 9.15 8.10 4.91 50.41% 2.35 $1.06 9.04%