Required:Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions:

a.All financial ratios remain at 20x6 levels.

b.Kodak will not record restructuring costs for 20x7.

c.Taxes payable are at the 20x6 level of $544 million.

d.Depreciation expense charged to SG&A is $765 million and $738 million for 20x6 and 20x5, respectively.

e.Gross PPE is $12,982 million and $12,963 million for 20x6 and 20x5, respectively.

f.Projected current maturities of long-term debt are $13 million for 20x7.

g.Capital expenditures for 20x6 and 20x5 are $1,047 and $783, respectively.