Instructions: Calculations should be displayed in an Excel sheet (upload your Excel sheet to Canvas when you are finished with the exam). Short answers or brief explanations should be clearly typed into the Excel sheet 1. The most recent Income Statement for the Wolfpack Company is shown here: Revenues Costs Taxable income Taxes (40%) Net Income Dividends Paid $ 850,000 ($ 500,000) $ 350,000 ($ 140,000) $ 210,000 $ 52,500 a. Revenues are forecasted to increase by 9% next year. Costs are forecasted to increase by 7% next year. Tax Rate is expected to remain unchanged for next year. The Wolfpack Company strives for a Constant Dividend Payout Ratio. In Excel, forecast the Income Statement (including Net Income and Dividends) for next year. (10 points) b. If the P/E ratio for the company has been relatively constant at 20 and the number of shares outstanding is 100,000, then what is the predicted (1) Earnings per Share, (ii) Dividends per Share, and (iii) Stock Price per Share for the Wolfpack Company next year using the Forecasted Income Statement? (10 points) C. Given your value for part b., what is the Expected Return of the Wolfpack Company for the coming year if the current stock price quote is $44.50 per share? (10 points)