Total (30 Points). Please complete the following table. Forecast Year 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Sales growth rate 9.39% 8.31% 8.42% 7.60% 6.80% 6.00% 5.30% 4.50% 3.80% 3.00% NOPAT margin 9.89% 10.49% 11.09% 10.50% 9.90% 9.30% 8.70% 8.10% 7.60% 7.00% Beginning net operating working/sales 10.60% 9.60% 8.60% 8.60% 8.60% 8.60% 8.60% 8.60% 8.60% 8.60% Beginning net operating long-term assets/sales 58.10% 57.00% 55.70% 55.70% 55.70% 55.70% 55.70% 55.70% 55.70% 55.70% Beginning net debt to captial ratio 57.20% 57.20% After-tax cost of debt 1.50% 1.70% 57.20% 1.90% 57.20% 2.10% 57.20% 2.30% 57.20% 57.20% 57.20% 57.20% 2.50% 2.50% 2.50% 2.50% 57.20% 2.50% Beginning Balance Sheet Beg net working capital 23191.95 22749.70 22096.50 23775.83 127118.15 135076.32 143113.35 153989.97 150310.10 157826.02 165209.85 177765.80 25392.59 26916.14 28342.70 29618.12 30743.61 31665.91 164461.28 174328.96 183568.40 191828.97 199118.48 205092.03 189853.87 201245.10 211911.09 221447.09 229862.08 236757.94 + Beg net long term assets = net operating assets Net Debt 85977.38 +Preferred stock (Assume zero for all the years) 0.00 + Shareholders' equity 64332.72 = Net Capital 150310.10 Income Statement Sales Net operating profits after tax -Net interes expese after tax = Net Income - Preferred dividends (Assume 0 for all the years) = Net Income to common Operating return on assets Return on common equity Book value of assets growth rate Book value of common equity growth rate Net operatin asset turnover 218792.00 21645.97 1289.66 236976.00 256936.00 276463.14 295262.63 312978.39 329566.24 344396.72 357483.80 368208.31 20356.31 0.00 20356.31 14.40% 31.64% 5.00% 5.00% 1.46 Cash Flow Data Net income -Change in net working capital 20356.31 -23191.95 -Change in net long-term assets -127118.15 + Change in net debt =Free cash flow to equity -85977.38 84689.03