Income Statement Sales $204,540 Costs Except Depreciation (100,880) EBITDA $103,660 Depreciation (6,010) EBIT $97,650 Interest Expense (net) (370) Pretax Income $97,280 Income Tax (34,048) Net Income $63,232

Balance Sheet Assets Cash and Equivalents $15,030 Accounts Receivable 2,030 Inventories 3,940 Total Current Assets $21,000 Property, Plant and Equipment 9,910 Total Assets $30,910 Liabilities and Equity Accounts Payable $1,400 Debt 4,000 Total Liabilities $5,400 Stockholders' Equity 25,510 Total Liabilities and Equity $30,910

and the percent Jim's Espresso expects sales to grow by 9.7% next year. Assume that Jim's pays out 86.5% of its net income. Use the following statements of sales method to forecast: a. Stockholders' equity b. Accounts payable