Income Statement For year ended December 31(in millions) 2019 2018 2017 (RM) (RM) (RM) Net Sales 13,234 13,994 14,089 Cost of goods sold 8,670 8,375 8,086 Gross profit 4,564 5,619 6,003 Selling, general and administrative expenses 2,781 2,665 2,846 research and development costs 779 784 817 Restructuring costs9credit) and others 659 (44) 350 Earnings from operations 345 2,214 1,990 interest expense Other income(charges) 219 178 142 (18) 96 96 261 Earnings before income taxes Provision for income taxes Net earning 108 2,132 2,109 32 725 717 76 1,407 1,392 Statement of financial Position At December 31(in millions, except share and per 2019 2018 share data) (RM) (RM) Assets Current assets Cash and cash equivalents 448 246 Receivables, net 2,337 2,653 Inventories, net 1,137 1,718 Deferred income taxes 521 575 Other current assets 240 299 Total current assets 4,683 5,491 Property plant and equipment, net 5,659 5,919 Goodwill,net 948 947 Other longterm assets 2,072 1,855 Total assets 13,362 14,212 Liabilities and shareholders equity Current liabilities Account payable and other current liabilities 3,276 3,403 Short term borrowings 1,378 2,058 Current portion of long term debt 156 148 Accrued income taxes 544 606 Total current liabilities 5,354 6,215 Long term debts, net of current portion 1,666 1,166 Postemployment liabilities 2,728 2,722 Other long term liabilities 720 681 Total liabilities 10,468 10,784 Shareholders equity Common stock RM2,50 par value 950,000,000 share authorised: issued 391,292,760 shares in 978 978 2019 and 2018; 290,929,701 and 290,484,266 share outstanding in 2019 and 2018 Additional paid in capital Retained earning 849 871 7,431 7,869 Accumulated other comprehensive loss 597 482 8,661 9,236 Treasury stock,at cost; 100,363,059 shares in 2019 and (5,767) (5,808) 2,894 3,428 13,362 14,212 100,808,494 shares in 2018 Total shareholders' equity Total liabilities and shareholders' equity Required: Prepare forecasts of its income statement, statement of financial position and statement of cash flows for 2020 under the following assumptions: a. All financial ratio remains at 2019 level. b. Kodenko will not record restructuring costs for 2020. c. Taxes payable are at the 2019 level of RM544 million. d. Depreciation expense charged to Selling, general and administrative is RM765million for 2019 and 2018 repectively. e. Gross PPE is RM 12,982 million and RM12,963 million for 2019 and 2018 respectively. f. Projected current maturities of long term debt are RM13 million for 2020. g. Capital expenditure for 2019 and 2018 are RM1,047 and RM783, respectively