Lala Company is a fast-growing company. This is the last year's profit statement (2019) and projections for the next 4 years (2020-2023). Sales are projected to grow by 5% from 2023 onwards.

a. Create a projected income statement for Lala Company for 2024, 2025, and 2026.

b. Calculate at least 3 financial ratio projections based on the income statement that has been made.

Net Sales Cost of Goods Sold Gross Profit SG&A Expenses Depreciation EBIT Interest EBT Taxes (40% rate) Net Income Actual 2019 150,000 75,000 75,000 30,000 7,500 37,500 3,500 34,000 13,600 20,400 2020 200,000 100,000 100,000 40,000 10,000 50,000 3,500 46,500 18,600 27,900 Projected 2021 2022 250,000 300,000 - 125,000 - 150,000 125,000 150,000 50,000 60,000 12,500 15,000 62,500 75,000 3,500 3,500 59,000 71,500 23,600 28,600 35,400 42,900 2023 350,000 175,000 175,000 70,000 17,500 87,500 3,500 84,000 33,600 50,400