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1. Accounts payable rate is 26%.) (Round to one decimal place, and enter all numbers as a positive.) X That's incorrect. X Use the following formula to determine the forecasted net income. e de Forecasted Net Income = Forecasted Sales - Forecasted COGS - Forecasted Depreciation - Interest Expense - Taxes Recall that interest expense remains the same and taxes are 26% of pretax income. OK Check Answer. Clear All Score: 0 of 1 pt 6 of 15 (5 complete) Problem 18-8 a. Costs Global Corp. expects sales to grow by 8% next year. Using the percent of sales method and the data provided in the given tables forecast the following. e. Accounts receivable b. Depreciation f. Inventory c. Net income g. Property, plant, and equipment d. Cash h. Accounts payable (Note: Interest expense will not change with a change in sales. Tax rate is 26%.) a. Costs The forecasted costs except depreciation will be $ 187.9 million (Round to one decimal place, and enter all numbers as a positive.) b. Depreciation The forecasted depreciation will be $ 1.4 million (Round to one decimal place, and enter all numbers as a positive.) c. Net income The forecasted net income will be s million, (Round to one decimal place.) Enter your answer in the answer box and then click Check Answer 5 parts remaining Clear All Jmy le percent of sales method and the data provided in the given tables forecast the following. e Accounts receivable Data Table in sale 2.9 mil und to Click on the icons located on the top-right corners of the data tables below to copy its contents into a spreadsheet Income Statement ($ million) Balance Sheet ($ million) Net Sales 186.4 Assets Costs Except Depreciation - 174.7 Cash EBITDA 11.7 Accounts Receivable Depreciation and Amortization - 1.3 Inventories EBIT 10.4 Total Current Assets Interest Income (expense) -7.7 Net Property, Plant, and Equipment Pre-tax Income 2.7 Total Assets Taxes (26%) -0.7 Net Income 2.0 Liabilities and Equity Accounts Payable Long-Term Debt Total Liabilities Total Stockholders' Equity Total Liabilities and Equity 22.9 18.2 15.4 56.5 113.8 d to on 170.3 35.7 112.9 148.6 21.7 170.3 Print Done ck Check Answer. Clear All