Jim's Espresso expects sales to grow by 10.5% next year. Assume that Jim's pays out 85.8% 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.

Click on the icons located on the top-right corners of the data tables below to copy their contents into a spreadsheet. Income Statement Balance Sheet Sales $201,900 Assets Costs Except (100,050) Cash and Equivalents $14,950 Depreciation EBITDA $101,850 Accounts Receivable 1,940 Depreciation (6,100) Inventories 4,020 EBIT $95,750 Total Current Assets $20,910 Interest Expense (net) (430) Property, Plant, and 9,930 Equipment Pre-tax Income $95,320 Total Assets $30,840 Income Tax (33,362) Net Income $61,958 Liabilities and Equity Accounts Payable $1,420 3,940 Total Liabilities $5,360 Stockholders' Equity 25,480 Total Liabilities and $30,840 Equity Debt Click on the icons located on the top-right corners of the data tables below to copy their contents into a spreadsheet. Income Statement Balance Sheet Sales $201,900 Assets Costs Except (100,050) Cash and Equivalents $14,950 Depreciation EBITDA $101,850 Accounts Receivable 1,940 Depreciation (6,100) Inventories 4,020 EBIT $95,750 Total Current Assets $20,910 Interest Expense (net) (430) Property, Plant, and 9,930 Equipment Pre-tax Income $95,320 Total Assets $30,840 Income Tax (33,362) Net Income $61,958 Liabilities and Equity Accounts Payable $1,420 3,940 Total Liabilities $5,360 Stockholders' Equity 25,480 Total Liabilities and $30,840 Equity Debt