Question:

Now, use the proportional growth (percentage of sales) method to forecast the firm's financial statements and EFN for 1993. (Hint: Table 3 has been provided to speed up your work.) Compare the EFN given in question 1 with that obtained here from the percentage of sales method. Accounts payable + notes payable + accrued wages & taxes = current liabilities. 1992 interest expenses (initially) = 1993.