Jim's Espresso expects sales to grow by 10.0% next year. Assume that Jim's pays out 90% of its net income. Use the following statements and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. Sales Costs Except Depreciation EBITDA Depreciation EBIT Interest Expense (net) Pre-tax Income Income Tax Net Income $200,000 (100,000) $100,000 (6,000) $94,000 (400) $93,600 (23,400) $70,200 Assets Cash and Equivalents Accounts Receivable Inventories Total Current Assets Property, Plant, and Equipment Total Assets $15,000 2,000 4,000 $21,000 10,000 $31,000 Liabilities and Equity Accounts Payable Debt Total Liabilities Stockholders' Equity Total Liabilities and Fauity $1,500 4,000 $5,500 25,500 $31,000