Tech-USA Inc. is a provider of data storage technology and solutions. The company designs and markets electronic storage devices like hard disk drives or solid-state hybrid drives. The company just closed Fiscal Year 2022 ending March 31st and completed the balance sheet and income statement. You are hired as a Financial Analyst and asked to perform the following tasks:

PLEASE SHOW YOUR CALCULATION

1. Prepare a forecasted income statement, balance sheet and cash flow statement for the company for 2023.
2. Calculate the listed financial ratios for 2022.

Forecasting assumptions for 2023:

1. Revenue will grow by 5% and the tax rate will be 21%.
2. The CAPEX will be 5.8% of Revenue and Depreciation expense will be 5.4% of Property, equipment, and leasehold improvements gross at the start of the year which was $9,835 million. In the Income Statement, Depreciation is included in COGS, as is production related.
3. The company issues $99 million of stock-based compensation, and it is fully vested. Additional paid-in capital will increase by the same amount. The company includes this form of compensation in operating expenses.
4. The company has a dividend payout ratio of 35.4% of net income.
5. No change in the following income statement accounts: Amortization of intangibles, Interest income, Interest expense, and Other, net.
6. No change in the following balance sheet statement accounts: Goodwill, Long-term debts less current portion, Ordinary shares, Other comprehensive loss.
7. There is no change in macroeconomic readings, including the inflation rate.
8. The Restructuring and other, net is zero.
9. Consider the following accounts increase based on the percentage of the revenue in 2023.