Income statement

	Prior year	Current year
Revenues	782.6	900.0
Cost of sales
Selling costs
Depreciation	(27.0)	(31.3)
Operating profit	90.4	85.7
Interest
Earnings before taxes	85.4	78.2
Taxes	(31.1)
Net Income	54.3	47.4

Balance sheet

	Prior year	Current year
Working cash	15.0	12.3
Accounts receivable	85.8	111.0
Inventory	69.7	75.5
Current assets	170.5	198.8
Property and equipment	626.1	720.0
Total assets	796.6	918.8
Liabilities and equity
Accounts payable	33.7	44.1
Short-term debt	-	19.4
Current liabilities	33.7	63.5
Long-term debt	170.0	215.0
Shareholders' equity	592.9	640.3
Liabilities and equity	796.6	918.8

Exhibit presents the income statement and balance sheet for PartsCo, a $900 million supplier of machinery parts. Next year, the company is expected to grow revenues by 15 percent to $1,035 million. Using the methodology outlined in Exhibit, forecast next year's income statement for PartsCo. Assume next year's forecast ratios are identical to this year's ratios. Forecast depreciation as a percentage of last year's property and equipment. Forecast interest as a percentage of last year's total debt.