PLEASE SHOW ALL EXCEL FORMULAS AND HOW TO APPLY THEM

2. Pro forma income statements. Green Planet, a restaurant supply company, has the following income statement accounts for 2017: Revenue $12,345,000 SG & A Costs $1,481,400 Fixed Costs $ 1,975,200 COGS $5,555,250 Interest Expense $ 802,425 Depreciation $ 988,320 Sales Returns $ 185,175 Construct the income statement for 2017 with a tax rate of 38%. Then con- struct pro forma income statements for the years 2018, 2019, and 2020 if the company expects projected sales to rise annually at 4.5% and all the accounts have the same percentage of sales as in 2017. Redo the pro forma income statements for 2018, 2019, and 2020 if fixed costs are truly fixed and remain at $1,975,200, but all other accounts listed will be at the same percentage of sales for the next three years as in 2017. Find the growth in net income each year