predict the income statement for the company for 2020 using the following data. company is a traditional cameras company revenues are declining, making some financial estimates

Year Ended December 31, 2019

Kodak chooses against entering the API market. Instead, it obtains a bank loan and uses it to improve its operations. Please make the following assumptions:

• Kodak will receive a bank loan of $765 million
• Assume you can reduce cost of revenues by 0% to 3% (probably more than 0%)

CONSOLIDATED STATEMENT OF OPERATIONS Year Ended December 31, 2019 2018 Revenues Sales $ 979 $ 1,039 Services 263 281 Total net revenues 1,242 1,320 Cost of revenues Sales 877 946 Services 183 194 Total cost of revenues 1,060 1,140 Gross profit 182 180 Selling, general and administrative expenses 211 224 Research and development costs 42 48 Restructuring costs and other 16 17 Other operating expense, net 15 9 Loss from continuing operations before interest expense, pension income excluding service cost component, other charges, net and income taxes (102) (118) Interest expense 16 9 Pension income excluding service cost component (104) (131) Other charges, net 46 17 Loss from continuing operations before income taxes (60) (13) Provision (benefit) from income taxes 31 (4) Loss from continuing operations (91) (9) Earnings (loss) from discontinued operations, net of income taxes 207 (7) NET EARNINGS (LOSS) $ 116 ($16) Basic and diluted (loss) earnings per share attributable to Eastman Kodak Company common shareholders: Continuing operations ($2.58) ($0.68) Discontinued operations 4.81 (0.16) Total $ 2.23 ($0.84) Number of common shares used in basic and diluted (loss) earnings per share 43.00 42.70