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(Fomcasting net nome) in November of mach year, the CFO of Barker Electronics begins the financial forecasting process to determine the few's projected needs for new financing during the coming year flanker ima electronics manufacturing company located in Moline, Illinois, which is best known as the home of the John Deere Company The CFO begins the process with the most recent year's income statement, projects saie growth for the coming year, and then estimanes net income and finally the addisional eamings he can expect to retain and reinvest in the firm. The firm's income statement for 2015 follows The electronics business has been growing nipidly over the past 18 months as the economy recovers, and the CFO estimates that sales will expand by 10 percent in the next year in addition, he estimates the following relationship between each of the income statement expense fems and sales: Note that for the coming year both depreciation expense and interest expense are projected to remain the same as in 2018. a Estimate llarker's net income for 2010 and its addson to retained earnings under the assumption that the firm inaves its dividenda paid at the 2018 level b. Reevaluate Barker's net income and addition to retained namings if sales grow at 32 percent over the coming year. However, this scenario requires the addition of new plant and equipment in the amount if 500 000, which increases annual depreciation to $55,000 per year, and interest expense rises to $14,000 What is the estimate of Barker's net income for 2019? (Round to the nearest dollar) Assuming the firm leaves its dividends paid at the 2018 level, what is the estimate of Barker's addition to retained earnings for 20197 Round to the nearest dollar) b. if sales grow at 32 percent over the coming year, anual depreciation increases to $55.000 per year, and interest expense rises to $14,000, what is the estimate of Barkers net income for 2019 (Round to the nearest dolar) Assuming the firm leaves is dividends paid at the 2018 level, what is the estimate of Barkers addition to retained eamings for 2017 (Round to the nearest dr.) Timo Ro = Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Income Statement 12/31/2015 Sales $ 1,400,000 Cost of goods sold 980,000 Gross profit 420,000 Operating costs 140,000 Depreciation expense 48,000 Net operating profit 232,000 10,000 Interest expense Earnings before taxes 222,000 71,040 Taxes 150,960 Net income Dividends 30,000 Addition to retained earnings 120,960 Print Done $ es S $ ne ost 18 f the e pro new Barker $1, de el, se and interest ovnence are p - X Data table nev (Click on the following icon in order to copy its contents into a spreadsheet.) COGS/sales 70% 10% Operating expenses/sales Depreciation expense $48,000 $10,000 Interest expense Tax rate 32% Barke Print Done