Problem 4-7 The Eagle Feather Fabric Company expects to complete the current year with the financial results given below. Forecast next year using a modified percentage of sales method assuming no dividends are paid and no new stock is sold along with the following: A 17% growth in sales and a 40% growth in net fixed assets. A 15% growth in sales with a 10% growth in expenses and a 20% growth in net fixed assets. (Note that negative debt means the business will generate more cash than is currently owed.) Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Round your answer to the nearest thousand. Enter all amounts as a positive number.

I went wrong somewhere but i cant figure out where so my answers are wrong. some help is much needed

INCOME STATEMENT ($000) Current Year Next Year Revenue $36,100 $ 42,237 $ 41,515 COGS 14,440 16,895 16,606 Gross Margin $21,660 25,342 24,909 Expenses 12,635 14,783 15,983 EBIT $9,025 u 10,559 8,926 Interest (11%) 625 625 625 EBT $8,400 9,943 $ 8,310 Tax (42%) 3,528 4,176 3,490 Net Income $4,872 $ 5,767 $ 4,820 BALANCE SHEET ($000) Assets Cash $1,000 $ 3,896 4,468 Accounts receivable 5,000 5,850 5,750 Inventory 2,888 2,888 2,888 Current assets u 12,634 13,106 $8,888 7,250 Net fixed assets 10,150 8,700 21,806 Total Assets $16,138 $ 22,784 $ Liabilities & equity Accounts payable $1,550 $ 1,814 $ 1,783 Accruals 530 530 530 Current liabilities $2,080 2,344 2,313 Debt 5,598 6,214 6,214 Equity 8,460 14,227 13,280 Total L&E $16,138 22,784 $ 21,806