Income Statement for AMAT (presented in Thousands of Dollars) Supplemental DATA for AMAT Balance Sheets for AMAT (presented in Thousands of Dollars) Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Stockholders' Equity Cash Flow Provided by Operating Activities Cash Flow Provide by Investing Activities Cash Flow Provided by Financing Activities Use the following information (assumptions) to provide forecasts for Applied Materials (AMAT) in problems 17-20. Assume a forecast asset turnover ratio of 0.75 in 2016 that will grow by .05 turns in each of the following 4 years and then will stabilize after that. The projected sales growth is 12.2% in 2016, 12.9% in 2017, 10.2% in 2018, 9.2% in 2019 and then 6.5% thereafter for AMAT. The forecast 2016 gross profit margin is 40.5% and it is budgeted to drop by 0.5% per year until it reaches at target 39% level. Finally, assume that net profit margin is forecast to be 10% for the next 5 years. Assume a stable net profit margin of 13% and a dividend payout ratio of 35% Compute the forecast total assets at the end of 2017 for AMAT. Compute the forecast gross profit in 2016. Assume that AMAT maintains a 65 day collection period policy. Forecast the 2016 receivables. Compute the 2016 forecast Retained Earnings Balance