The following balance sheet and income statement pertain to Goode Corp., using the following assumptions complete a forecasted 2013 income statement
and balance sheet
Assumptions for 2013:
Revenue growth rate	45%
COGS	70% of sales
Operating expenses	18% of sales
Interest expense	12% of beginning long-term debt
Tax rate	35%
Forecast depreciation as a % of Net PPE at the start of the year. Use the historical 2012 rate to forecast 2013. Net PPE at start of 2012 = $30,000
Long term debt footnote indicates maturity of $1,500 for 2013.
Capex for 2012 = $25,000 and Dividends for 2012 = $500. Capex is forecast as a % of revenues and dividends as a % of Net Income
Estimated Stock Repurchases for 2013 = $2,000
Assume Accounts Recievables, Accounts Payable and Inventories to be at their 2012 percentage of Net revenues
Assume no change in Common stock and APIC
Use Cash as the flexible account.
Goode Corp. Consolidated Statement of Income
	2012	2013
Net Revenues	$345,871
Cost of Goods Sold	-$226,546
Operating Expenses	-$83,009
Depreciation	-$4,500
Operating Income	$31,816
Interest Expense	-$484
Income Before Income Taxes	$35,832
Income taxes	-$12,541
Net Income	$23,291
Goode Corp Consolidated Balance Sheet
	2012
Current Assets
Cash and Equivalents	$3,905
Inventories	$6,308
Accounts receivable	$6,614
Net PPE	$39,458
Total Assets	$56,285
Liabilities and Stockholders' Equity
Accounts payable	$9,643
Long-term debt	$13,500
Shareholders' Equity
Common stock and APIC	$28,613
Treasury stock	-$4,000
Retained earnings	$8,529
Total Liabilities and Shareholders' Eq.	$56,285