ACY Gamma Limited Statement of Profit or Loss Year ended 30 Sept 2019 Year ended 30 Sept 2020 $ 3,000,000 (2,130,000) 870,000 Sales revenue Less: Cost of goods sold Gross profit 1,000,000 (720,000) 280,000 Other operating expenses Interest expense (600,000) (5,000) (130,000) (5,000) Income before tax Less: Income tax expense 265,000 (26,500) 145,000 (14,500) Net income 238,500 130,500 ACY Gamma Limited is a manufacturer of personal hygiene products. In the recent years, over 80% of sales were made to the top three corporate customers, each operating a chain of supermarkets in the region; while the remaining portion of sales were made to various small retail shops and businesses. A stable gross profit margin was targeted in pricing its products. In the year ended 30 September 2020 year 2019/20"), significant sales growth was recorded by the company as market demand for hygiene products increased hugely due to the pandemic. Monthly sales growth peaked in the first half of 2020. A three-year note payable was issued at face value in early 2018 with a principal of $200,000 and at an annual interest rate of 2.5% The note will be due on 31 January 2021. Your team is instructed to forecast the company's financial performance for the year ending 30 September 2021 Cyear 2020/21"). A set of preliminary expectations are formed by your colleagues for the coming year. Sales growth rate, gross profit margin, the ratio between other operating expenses and sales, as well as effective tax rate are assumed to remain constant from year 2019/20; and The company is expected to issue another note payable of $200,000 upon the maturity of the existing note on 31 January 2021 for long-term debt financing. Interest rate is assumed to remain constant at 2.5% (24 marks) Required: (a) Prepare the "Projected Statement of Profit or Loss" for year 2020/21 (b) Comment on the uncertainties involved in your answers in Part () above. (12 marks) In Question 3, round your final answers to the nearest Integer in amount /dollar percentage of applicable) in your calculation process, you might take the precision lew/up to buodecimal place at mont (if applicable)