Sales will grow by 10%. All costs, assets, and current liabilities vary with sales. Tax rate and dividend payout ratio remain the same.

		2017
Income Statement
Net Revenue		$117,000
Cost of Goods Sold		58,500
Depreciation Expense		9,500
EBIT		49,000
Interest Expense		8,500
Income Before Taxes		40,500
Tax Expense		16,200
Net Income		$24,300
2017 Dividend		$10,000

Balance Sheet		2017
Assets
Current Assets
Cash & Equivalents		$8,500
Accounts Receivable		25,000
Inventory		12,500
Property & Equipment Net		165,000
Total Assets		$211,000
Liabilities
Current Liabilities
Accounts Payable		21,000
Long-term Debt		95,750
Total Liabilities		116,750
Stockholders' Equity
Common Stock		41,500
Retained Earnings		52,750
Total Shareholders' Equity		94,250
Total Liabilities & Equity		$211,000

a.) Prepare 2018 forecast, and what is 2018 dividend and addition to retained earnings

b.) if a bank will allow you to borrow 3 times prior to EBITDA, how much total long term debt will bank allow in 2018?

c.) what is days account receivables in 2018? if unabale to borrow any additional funds in 2018, how many days would A/R need to decrease to balance the balance sheet?

Can you show excel formulas so I can learn better? Thank you!

2017 2018 Income Statement Net Revenue Cost of Goods Sold Depreciation Expense $117,000 58,500 9,500 EBIT Interest Expense 49,000 8,500 Income Before Taxes Tax Expense 40,500 16,200 Net Income $24,300 2017 Dividend $10,000 Balance Sheet 2017 2018 Assets Current Assets Cash & Equivalents Accounts Receivable Inventory $8,500 25,000 12,500 Property & Equipment Net Total Assets 165,000 $211,000 Liabilities Current Liabilities Accounts Payable Long-term Debt Total Liabilities 21,000 95,750 116,750 Stockholders' Equity Common Stock Retained Earnings Total Shareholders' Equity 41,500 52,750 94,250 Total Liabilities & Equity $211,000 2017 2018 Income Statement Net Revenue Cost of Goods Sold Depreciation Expense $117,000 58,500 9,500 EBIT Interest Expense 49,000 8,500 Income Before Taxes Tax Expense 40,500 16,200 Net Income $24,300 2017 Dividend $10,000 Balance Sheet 2017 2018 Assets Current Assets Cash & Equivalents Accounts Receivable Inventory $8,500 25,000 12,500 Property & Equipment Net Total Assets 165,000 $211,000 Liabilities Current Liabilities Accounts Payable Long-term Debt Total Liabilities 21,000 95,750 116,750 Stockholders' Equity Common Stock Retained Earnings Total Shareholders' Equity 41,500 52,750 94,250 Total Liabilities & Equity $211,000