Prepare a memo to the management of ABC Company addressing the following:

Explain how the forecasted income statement was prepared, including the importance of using the assumptions. Do not explain how the numbers were calculated, this is what your formulas in Excel will show.

Discuss at least two other methods that could have been used to prepare the forecast. Include the pros and cons and any limitations or potential errors of using those methods.

Discuss at least one qualitative forecasting method that could also be incorporated to strengthen the reliability of the forecast in decision$-$making.