Please instruct on how to calculate budget and forecast

AutoSave . Off Project 3 Choice Hotels Workbook_2195 - Excel Walker, Willetta ww X File Home Insert Page Layout Formulas Data Review View Help Search Share Comments This P & Cut [a Copy Calibri 11 ~ A" A 22 Wrap Text General Normal Bad Good Neutral Z AutoSum Fill O Paste Merge & Center $ ~ % 9 Conditional Format as Calculation Check Cell Explanatory ... Followed Hy... Insert Delete Format Sort & Find & Ideas Format Painter Formatting ~ Table ~ Clear Filter ~ Select Clipboard Font Alignment Number Styles Cells Editing Ideas N17 X V Office 36 A B C D E F G H K M 22 Procurement services $ 52,088,000 23 Marketing and reservation system 543,677,000 24 Other 42,791,000 25 Total revenues $ 1,041,304,000 Recycle 26 OPERATING EXPENSES: 27 Selling, general and administrative $ 170,027,000 $ 188,993,632.13 $ 191,396,093.56 $ 193,798,554.98 28 Depreciation and amortization 14,330,000 $ 15,928,521.64 $ 16,400,000.00 $ 16,810,000.00 29 Marketing and reservation system $ 534,266,000 $ 593,863,750.26 $ 601,412,865.73 $ 608,961,981.20 30 Total operating expenses 718,623,000 $ 798,785,904.03 $ 808,939,962.13 $ 819,094,020.23 31 Impairment of goodwill 289,000) $ (4,767,440.98) $ (4,828,044.05) $ (4,888,647.11) Walker, Wil 32 Gain on sale of assets, net 32,000 S 91,147.16 2,305.81 93,464.46 33 Operating income S 318,474,000 $ 354,000,000.00 $ 358,500,000.00 $ 363,000,000.00 34 OTHER INCOME AND EXPENSES, NET: 35 Interest expense 45,908,000 $ 51,029,069.88 $ 45,800,000.00 $ 52,326,419.11 36 Interest income (7,452,000) $ (8,283,275.87) $ (7,600,000.00) $ (8,493,867.63) Old 105 37 Other (gain) loss 1,437,000 1,597,298.37 $ 46,700,000.00 $ 1,637,907.65 38 Equity in net (income) loss of affiliates 5,323,000 $ 5,916,784.42 $ 3,900,000.00 $ 6,067,211.14 39 Total other income and expenses, net 45,216,000 $ 50,259,876.79 $ 50,898,773.53 $ 51,537,670.27 40 Income before income taxes 273,258,000 $ 303,740,123.21 $ 307,601,226.47 $ 311,462,329.73 41 Income taxes 56,903,000 $ 63,250,569.91 $ 56,200,000.00 $ 64,858,635.24 MCG Softy 42 Net income 216,355, $ 193,000,000.00 $ 197,100,000.00 $ 201,000,000.00 Center 43 Basic earnings per share: 44 Basic earnings per share (in dollars per share) $ 3.83 4.00 $ 4.06 $ 4.13 45 Diluted earnings per share (in dollars per shar $ 3.80 3.44 S 4.06 $ 3.58 Attachm 46 Target Expectation Expectation Expectation 48 Questions: Attachmate 49 ... Income Statement Balance Sheet Cash Flow Cost and Investing Budget and Forecast + D Ready -+ 140%To complete the budget, use the following information: Revenues are expected to grow at a rate of 2.5% according to the full-year outlook. Given the expected growth and recent investments, expenses are expected to increase by 1%. Income taxes are expected to be 22% 9 10 To complete the forecast, use the following information: 11 The low-range forecast is expected to be 2% 12 The mid-range forecast is expected to be 2.5% 13 The high-range forecast is expected to be 3% 14 15 16 Forecast Forecast Forecast 17 Budget Low Midpoint High 18 Consolidated Statements of Income - USD ($ Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2019 Dec. 31, 2019 Dec. 31, 2019 19 REVENUES: 20 Royalty fees $ 376,676,000 21 Initial franchise and relicensing fees $ 26,072,000 22 Procurement services 52,088,000 23 Marketing and reservation system 543,677,000 24 Other 42,791,000 25 Total revenues 1,041,304,000 Att 26 OPERATING EXPENSES: 27 Selling, general and administrative $ 170,027,000 $ 188,993,632.13 $ 191,396,093.56 $ 193,798,554.98 ... Income Statement Balance Sheet Cash Flow Cost and Investing Budget and Forecast + D Select destination and press ENTER or choose Paste O U -- + 140% 4:53 PM O e 9 X 8/6/2019