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(Time allowance: 20 minutes) The following information is being used to forecast income statement and cash flows for the years 2021 to 2025 for

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(Time allowance: 20 minutes) The following information is being used to forecast income statement and cash flows for the years 2021 to 2025 for RforU Inc. Click here to download a shell excel file with the format below that you can use to replace the data with the data below (several cells will have the same numbers but some cells change since the problem Discount rate Tax rate Estimated Sales in 2021 Sales growth Erosion as % of sales Cash as % of sales Accounts Receivables as % of sales Inventories as % of sales Current liabilities as % of sales 10% 30% $20,000 2020 2021 2022 2023 2024 2025 6% 6% 10% 5% 3% 3% 3% 3% 3% 5% 4% 7% 6% 5% 10% 14% 10% 10% 8% 20% 25% 17% 10% 10% 5% 10% 6% 6% 5% $4,000 $3,000 $400 $500 $500 30% 30% 30% 20% 20% $3,000 10% $1,000 10% $1,000 $2,000 $1,500 $1,500 10% 10% 10% $2,000 $2,000 $2,000 $1,000 Fixed part of Cost of Goods Sold Cost of Goods Sold as % of sales Fixed part of Selling & Admon. (S&A) expenses S&A expenses as % of sales Depreciation Specifically for year 2022, what is the Net Income for 2022? Do not enter/use dollar sign ($); DO NOT USE commas to separate thousands; and round up to zero decimals. If the result is a negative number, enter the minus sign (- ) in front of the first digit. Do not enter it using parenthesis. If the number is positive, simply enter the number.

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