Predicting net income. Abbreviated income statements for Starbucks are in the popup window: Predict the net income for the period ending September 30, 2014, by determining the growth rates of sales, COGS, SG&A, and interest expense. Use a tax rate of 37%.

Note: Enter all expenses as negative numbers.

(Hint: Use the compounded growth rate method to calculate all of the growth rates.) The sales growth is % (Round to three decimal places.)

Starbucks
Abbreviated Income Statements for the Years Ending September 30, 2011-2014
($ in Millions)
Account	9/30/2011	9/30/2012	9/30/2013	9/30/2014
Sales	$11,629	$13,385	$14,804
Cost of goods sold	$-4,841	$-5,819	$-6,273
Selling, general, and administrative expenses	$-4,929	$-5,267	$-8,771
EBIT	$1,859	$2,299	$-240
Interest expense	$ -31	$ -52	$ -68
Taxes	$-676	$-831	$ 114
Net income	$1,152	$1,416	$-194