Question $6$: Business Forecasting

The board of directors of ABS Ltd$,$ in their strategic meeting agreed on the following objectives for the $2024$ financial year..

Objective

Non$-$Current Assets R $3750750$

Sales $($all sales are on credit$)?$

Gross profit percentage $35\%$

Expenses as a percentage of sales $30\%$

Estimated finance cost R$185000$

Tax rate $27\%$

Debtor days outstanding $45$

Inventory days $30$

Creditor days $90$

Non$-$current asset turnover $1\mathrm{.}7$

Credit purchases: Percentage of cost of sales $75\%$

Debt to equity $0\mathrm{.}7$

Cash and bank $?$

Non$-$ current liabilities R $1876750$

Weighted average cost of capital $15\%$

Required

$7\mathrm{.}1.$ Draft the forecast statement of comprehensive income for the year ended $30,$ June $2024(5)$

$7\mathrm{.}2.$ Advise the board if the above$-$mentioned objectives will add value for the shareholders. Support your answer with relevant calculations $(5)$