Multi-part Numerical Problems: Answer each part in the space provided. Show your work is by-step or calculator Inputs) to receive credit 9. Blackstone Enterprises (20 points) Income Statement Year 2017 2018 Net Revenue 117,000 - Cost of Goods Sold 58.500 Depreciation Expense 9,500 EBIT 49,000 - Interest Expense 8.500 Income Before Taxes 40,500 Tax Expense 16,200 Net Income 24,300 2016 Dividend 10,000 Balance Sheet Year (end on 2017 2018 2017 2018 Assets Liabilities Current Assets Current Liabilities Cash and Equivalents 8.500 Accounts Payable 21.000 Accounts Receivable 25,000 Long-term Debt 95,750 Inventory 12,500 Total Liabilities 116,750 Fixed Assets, Net 165.000 Stockholders' Equity Total Assets 211,000 Common Stock 41,500 Retained Earnings 52,750 Total Stockholder Equity 94,250 Sales will grow by 10% in 2018. All costs, assets and current liabilities vary directly with sales. The tax rate and the dividend payout ratio remain constant. 9A. Prepare a 2018 forecast. What is the 2018 Dividend and Addition to Retained Earnings (10 pts)? 9B. If a bank will allow Blackstone to borrow 3 times prior year EBITDA, how much total Long-Term Debt would the bank allow in 2018 (5 pts)? 9C. What is their Days Accounts Receivables in 2018? If they are unable to borrow any additional funds in 2018, by how many Days would A/R need to decrease to balance the Balance Sheet (5 pts)? 3