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 11% 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 $92,000 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 9% interest on all of its debt. Assume the tax rate is a flat 25%. 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 11% is to multiply it by 1.11 rather than taking 11% and adding. Do not grow subtotals. For example, to grow Revenue and COGS by 11%, 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 ($000)
		20X8		20X9
Revenue		$624		$
COGS		300
Gross Margin		$324		$
Expenses		146
EBIT		178
Interest (9%)		33
EBT		$145		$
Inc Tax (25%)		36
Net Income		$109		$

Coker Corp.
Current and Projected Balance Sheets ($000)
ASSETS						LIABILITIES & EQUITY
		20X8		20X9				20X8		20X9
C/A		$103		$		C/L		$ 83		$
F/A		554				Debt		399
Total		$657		$		Equity		175
						Total		$657		$