Prepare a financial forecasting report for ExxonMobil for 2018 (Please show work on Excel)

To simplify analysis, assume the following:

The firm (i.e., its assets) operates at full capacity.

Sales for 2018 are expected to grow as the same as rate as in the past, say from 2012 to 2017. Note: Please compute growth rate for XOM sales using past data, for example from 2012 to 2017.

About 50 percent of the operating expenses are variable.

All variable expenses are expected to vary at the same rate as sales. For example, if sales are expected to increase by 8 percent in 2018, variable expenses are also expected to increase by 8 percent in 2018.

Tax rate (taxes divided by taxable income or before tax income or earnings before taxes for 2017) will remain constant in 2018.

Interest expenses will remain constant (before financing decision is made) next year.

Dividend payments in 2018 will be the same as in 2017 (if any). Click on Cash Flow tab to determine Dividend Paid.

All current assets and long-term assets, notes, payables, and accruals will vary proportionately with projected sales for 2018.

Determine External Financing Need for ExxonMobil for 2018. That is, indicate how much fund your firm needs to raise from external sources in 2018.