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Whats the answer for these if he skips the 2% discount. Income Statement 2004 - 2006 and 2007, assuming that Jones will take the trade

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Income Statement 2004 - 2006 and 2007, assuming that Jones will take the trade discounts \begin{tabular}{|c|c|c|c|c|c|} \hline & & & & \multirow{2}{*}{\multicolumn{2}{|c|}{ Predicted 2007}} \\ \hline & & & & & Skip Discounts \\ \hline Net sales & 2004 & 2005 & 2006 & \begin{tabular}{c} Take Discounts \\ $2,700 \end{tabular} & \\ \hline \begin{tabular}{l} Net sales \\ Cost of goods sold \end{tabular} & $1,624 & $1,916 & $2,242 & $2,700 & \\ \hline \begin{tabular}{l} Cost of goods sold \\ Gross profit on sales \end{tabular} & $1,304 & $1,535 & $1,818 & $2,190 & \\ \hline & $320 & $381 & $424 & $510 & \\ \hline Operating expense b & & & & & \\ \hline \begin{tabular}{l} Operating expense \\ Interest expense \end{tabular} & $272 & $307 & $347 & $417 & \\ \hline \begin{tabular}{l} Interest expense \\ Net income before taxe \end{tabular} & $27 & $30 & $31 & $31 & \\ \hline & $21 & $44 & $46 & $62 & \\ \hline Provision for income ta & $7 & $15 & $16 & $22 & \\ \hline Net income & $14 & $29 & $30 & $40 & \\ \hline \end{tabular} Balance Sheet: 2004 - 2006 amd 2007, assuming that Jones will take the trade discounts \begin{tabular}{|c|c|c|c|c|c|} \hline & & & & Pred & 007 \\ \hline & 2004 & 2005 & 2006 & Take Discounts & Skip Discounts \\ \hline Cash & $45 & $53 & $23 & $23 & \\ \hline Accounts receivable & $187 & $231 & $264 & $318 & \\ \hline Inventory & $243 & $278 & $379 & $456 & \\ \hline Total current assets & $475 & $562 & $666 & $797 & \\ \hline Property \& equipment & $187 & $202 & $252 & $287 & \\ \hline Accumulated depreciation & ($74) & (\$99) & (\$134) & ($169) & \\ \hline Total PP\&E, net & $113 & $103 & $118 & $118 & \\ \hline & & & & & \\ \hline Total assets & $588 & $665 & $784 & $915 & \\ \hline Accounts payable & $36 & $42 & $120 & $60 & \\ \hline Line of credit payable & $149 & $214 & $249 & $424 & \\ \hline Accrued expenses & $13 & $14 & $14 & $14 & \\ \hline Long term debt, current portion & $24 & $24 & $24 & $24 & \\ \hline Current liabilitities & $222 & $294 & $407 & $522 & \\ \hline Long-term debt & $182 & $158 & $134 & $110 & \\ \hline Total liabilities & $404 & $452 & $541 & $632 & \\ \hline Net worth & $184 & $213 & $243 & $283 & \\ \hline Total liabilities and net worth & $588 & $665 & $784 & $915 & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular}

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