Part 2 please

Intro Rakuten had the following sales in the past: Year 2018 2019 2020 2021 Sales ($ million) 608 565.8 715.05 672.15 Income statement for 2021: Line item Amount ($ million) Sales 672.15 - COGS 268.86 403.29 134.43 67.21 201.64 = Gross profit - SG&A - Depreciation = Operating profit - Interest = Taxable income - Taxes = Net income 75 126.64 35.46 91.18 Interest expenses and the average tax rate are expected to stay constant. 1B Attempt 3/10 for 10 pts. Part 1 What was the compound (average) annual growth in sales from 2018 to 2021? 0.0230 Correct Using the future value formula to find the growth rate: TTY TTT 1 N = Net income 91.18 Interest expenses and the average tax rate are expected to stay constant. Part 1 18 Attempt 3/10 for 10 pts. What was the compound (average) annual growth in sales from 2018 to 2021? 0.0230 Correct Using the future value formula to find the growth rate: FV = PV(1+r)^ FV r= () 1= 672.15 608 - 1 = 0.034 PV 8 Attempt 4/10 for 8 pts. Part 2 Prepare a pro forma income statement for 2022 using the percent-of-sales method. Assume that sales grow at the same rate as in the past. What is the expected net income (not sales)? 0+ decimals Submit