Jim's Espresso expects sales to grow by 10.5% next year. Assume that Jim's pays out 84.5% of its net income. Use the following statements and the percent of sales method to forecast: a. Stockholders' equity b. Accounts payable The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. a. Stockholders' equity The new stockholders' equity will be $ (Round to the nearest dollar.) Balance Sheet Assets $209,800 (100,690) Cash and Equivalents Income Statement Sales Costs Except Depreciation EBITDA Depreciation EBIT $14,970 $109,110 (5,940) $103,170 Accounts Receivable Inventories Total Current Assets Property, Plant, and Equipment Total Assets 1,930 3,930 $20,830 Interest Expense (net) (360) 10,050 $30,880 Pre-tax Income Income Tax Net Income $102,810 (35,984) $66,826 Liabilities and Equity Accounts Payable Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity $1,420 4,090 $5,510 25,370 $30,880