These are the questions:

These are the answers given:

The pro forma financial statements for the years 2023 to 2027, based on the provided assumptions, are shown below.

Income Statement:

Particulars	2023	2024	2025	2026	2027
Sales	3990	4307	4652	5027	5435
Cost of goods sold	1648	1781	1923	2083	2263
Gross Profit	2342	2526	2729	2944	3172
Expenses	1468	1584	1713	1855	2010
Interest on Overdraft	0	0	0	0	0
Interest on LT Loan	36	36	36	36	36
Depreciation	386	416	449	485	524
Earnings before tax	452	486	531	568	603
Tax	126	136	149	160	170
Earnings after tax	326	350	382	408	433
Dividend	240	259	281	302	325
Retained Earnings	86	91	101	106	108

Balance sheet

Particulars	2023	2024	2025	2026	2027
Fixed Assets - Cost	4590	4932	5302	5703	6136
Accum. Depreciation	1710	1990	2295	2628	2991
Fixed Assets - Net	2880	2942	3007	3075	3145
Current Assets	1343	1451	1569	1697	1835
Total Assets	4223	4393	4576	4772	4980
Overdraft	2	2	2	2	2
Payables	828	894	967	1047	1134
Long Term Loan	600	600	600	600	600
Capital	2400	2400	2400	2400	2400
Retained Earnings	393	497	607	723	844
Total Liabiities	4223	4393	4576	4772	4980

Can the correct answers be give as these answers are wrong?

FINC305-616 Laboratory Exercise, Week 3 The following is the Income Statement and Balance Sheet for the year ended 31 March 2022 for the ARC C Cnv (a) Prepare a pro forma financial statement model which projects the data for the five years 2023 to 2027 . Make the following assumptions: (1) Sales will grow by 8% per year. (2) The cost of goods sold as a perecentage of sales will remain constant. (3) Cash expenses as a percentage of sales will remain constant. (4) Interest on the overdraft will be 8% of its opening and closing values. (5) The long term loan stays constant, with interest at 6% per annum. (6) Deprecation is 12% of the average depraeciated value of fixed assets. (7) Tax is 28% of earnings before tax. (8) A dividend will be paid of 10% of Capital each year. (9) The ratio of net fixed assets to sales will be 82%. (10) The 2022 ratio of current assets to sales will be maintained. (11) The 2022 ratio of payables to sales will be maintained. (b) Assume that sales only grow by 7% per year. Lay out the projected Income Statement and Balance Sheet for the year ended 31 March 2027 in a separate sheet in your Excel file. Use the same pro forma financial statements as above. (c) The current ratio is currently 1.45=1100/(10+750). Project this ratio for the five years. What do you conclude? (Just two or three sentences)