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Use the following information to answer questions 1 - 1 0 . Use Table 1 and the following information on Company X to perform a

Use the following information to answer questions 1-10.
"Use Table 1 and the following information on Company X to perform a pro-forma financial modeling using a percentage sales method, and answers the next questions. Note: When applying the percentage sales method, you should assume that the 2024 percentage values with respect to sales of the (i) costs except depreciation, (ii) depreciation, (iii) cash and equivalents, (iv) accounts receivable, (v) inventories, (vi) property, plant and equipment, and (vi) accounts payable will remain equal to those percentages of 2023. Sales in 2024 are expected to grow at a rate of 6%, with respect to the values of 2023.
Assume also that the total values in 2024 of interest expense and debt will not change from its 2023 values; income tax will remain at 28% of the Pretax Income; and that Company X initially plans to payout 45% of its net income to its shareholders.
Table 1
Income Statement, 2023 Balance Sheet, 2023
Sales 1,500,000 Assets
Costs except Depr. -850,000 Cash and Equivalents 900,000
EBITDA 650,000 Accounts Receivable 290,000
Depreciation -19,500 Inventories 95,000
EBIT 630,500 Total Current Assets 1,285,000
Interest Expense (net)-200,000 Property Plant & Equipment 200,000
Pretax Income 430,500 Total Assets 1,485,000
Income Tax -120,540 Liabilities &Equity
Net Income 309,960 Accounts Payable 550,000
Debt 600,000
Total Liabilities 1,150,000
Stockholders' Equity 335,000
Total Liabilities and Equity 1,485,000
What is the forecasted value of sales for 2024? Express the numerical terms of your answer completely. For example: If your answer is one million dollars, write: 1000000."

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