Planning for Growth at S&S Air After Chris completed the ratio analysis for S&S Air (see Chapter 3). Mark and Todd approached him about planning for next year's sales. The company had historically used little planning for investment needs. As a result, the company experienced some challenging times because of cash flow problems. The lack of planning resulted in missed sales, as well as periods when Mark and Todd were unable to draw salaries. To this end, they would like Chris to prepare a financial plan for the next year so the company can begin to address any outside investment requirements. The income statement and balance sheet are shown here: S&S Air, Inc. 2021 Income Statement Sales Cost of goods sold Other expenses Depreciation EBIT Interest Taxable income Taxes (21%) Net income Dividends $37,038,492 27,629,530 4,696,692 1,659,882 $3,052,388 580,078 $2,472,310 618,078 $1,854,232 $565,000 Add to retained eamings 1,289,232