The management of Coker Corp. is doing a quick forecast of 20X9 using the modified percentage of sales method in preparation for a more detailed planning exercise later in the month. The estimate is to assume a 9% growth in sales. All other line items are to be assumed to grow at the same rate except for fixed assets which is projected to increase by $94,000 due to an expansion program already underway. Approximate financial statements for the current year, 20X8, and a planning worksheet are shown below. The firm pays 10% interest on all of its debt. Assume the tax rate is a flat 20%. There are no plans for dividends or the sale of additional stock next year. Make a forecast of Coker's complete income statement and balance sheet. Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. (Hints: The easiest way to grow a number by 9% is to multiply it by 1.09 rather than taking 9% and adding. Do not grow subtotals. For example, to grow revenue and COGS by 9%, round each to the nearest thousand and subtract for gross margin. Don't grow interest, debt, or equity; use the debt/interest iteration technique.) Round your answers to the nearest whole thousand. Enter all amounts as a positive numbers.

Coker Corp. Current and Projected Income Statements Revenue COGS Gross Margin Expenses EBIT Interest (10%) EBT Inc Tax (20%) Net Income 20X8 ASSETS C/A F/A Total $751 $ $167 584 $ ($000) 20X8 $655 254 $401 298 103 31 $ 72 14 $ 58 20X9 $ 143 X $ $ 20X9 713 276 437 324 113 $ Coker Corp. Current and Projected Balance Sheets ($000) C/L Debt 31 17 82 X Equity Total 65 LIABILITIES & EQUITY 20X8 20X9 $ 87 314 350 $751 $ $ 95 379 X 415