Larime Corp. is forecasting 20X2 near the end of 20X1. The estimated year-end financial statements and a worksheet for the forecast are given below. Management expects the following next year. An 7% increase in revenue. Price cutting will cause the cost ratio (COGS/sales) to deteriorate (increase) by 1% (of sales) from its current level. Expenses will increase at a rate that is three quarters of that of sales. The current accounts will increase proportionately with sales. Net fixed assets will increase by $6 million. All interest will be paid at 12%. Federal and state income taxes will be paid at a combined rate of 43%. Make a forecast of Larime's complete income statement and balance sheet. Enter your dollar answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Round percentage values to 1 decimal place. Enter all amounts as a positive numbers.

I cant figure out where i went wrong? so some help would be great

Larime Corp. Projected Income Statement ($000) 20X1 20x2 0% % Revenue $255,746 $ 100.0 100.0 57.7 273,648 160,631 COGS 147,546 58.7 41.3 Gross Margin $ 108,200 42.3 113,017 Expenses 45,784 17.9 48,188 17.6 EBIT $62,416 24.4 $ 64,829 Interest (12%) 9,577 3.7 9,577 ) 23.7 3.5 x 20.2 X EBT $52,839 20.7 $ 55,252 x [ Inc Tax (43%) 22,721 8.9 23,758 8.7 X Net Income $30,118 11.8 $ 31,494 x 11.5 x C/A Larime Corp. Projected Balance Sheet ($000) ASSETS LIABILITIES & EQUITY 20X1 20X2 20X1 20X2 $178,940 $ 191,466 C/L $83,487 $ 89,331 140,648 146,648 Debt 79,450 179,450 $319,588 $ 338,114 Equity 156,651 169,333 F/A Total Total $319,588 $ 338,114