You need to estimate the income statement for every year based on the information below like in the last picture

Under the assumption that Ideko's market share will increase by 0.5 percent per year, you project the following investment and depreciation: 2005 5,200 (5,450) New Investment Depreciation Fixed Assets and Capital Investment ($ 000) 2007 2008 5,200 5,200 (5,403) (5,382) 2006 5,200 (5,425) 2009 5,200 (5,364) 2010 19,900 (6,818) Using this information and the information here E (IMPORTANT: Please click on the icon to import the table into a spreadsheet and use all the values as rounded on the spreadsheet. DO NOT recalculate the forecasted values.), project net income through 2010 (that is, reproduce Table 19.7 under the new assumptions). Assume the corporate tax rate is 35%. Ideko's income statement for 2005 is shown here Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Sales 75,359 84,685 94,956 106,258 118,687 132,344 The next items in the income statement detail the cost of goods sold. (Round to the nearest $ 000.) Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Raw Materials (16,618) (18,501) (20,538) (22,747) (25,158) (27,788) The same method can be applied to determine the direct labor costs. (Round to the nearest $ 000.) Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Direct Labor Costs (18,432)| Year 2008 Growth 2005 2006 2007 2009 2010 5% 0.5% 2% 10,100 10.15% 73.5100 10,605 10.65% 74.9802 11,135.25 11.15% 76.4798 11,692.01 11.65% 78.0094 12,276.61 12.15% 79.5696 12,890.44 12.65% 81.1610 Sales Data Market Size (000 units) Market Share Average Sales Price ($/unit) Cost of Goods Data Raw Materials ($/unit) Direct Labor Costs ($/unit) Operating Expense Data Sales and Marketing (% sales) Administrative (% sales) Interest on Term Loan ($ 000) 1% 4% 16.2100 17.9800 16.3721 18.6992 16.5358 19.4472 16.7012 20.2251 16.8682 21.0341 17.0369 21.8754 15.13 16.68 18.23 19.78 20.33 20.33 17.92 (78) 14.92 (6,956) 14.92 (6,956) 13.92 (6,956) 12.92 (6,956) 12.92 (6,956) TABLE 19.7 SPREADSHEET Pro Forma Income Statement for ldeko, 2005-2010 Year 2005 2006 2007 2008 2009 2010 75,000 88,358 103,234 119,777 138,149 158,526 Income Statement ($ 000) 1 Sales 2 Cost of Goods Sold 3 Raw Materials 4 Direct Labor Costs 5 Gross Profit 6 Sales and Marketing 7 Administrative 8 EBITDA 9 Depreciation 10 EBIT 11 Interest Expense (net) 12 Pretax Income 13 Income Tax 14 Net Income (16,000) (18,665) (21,593) (24,808) (28,333) (32,193) (18,000) (21,622) (25,757) (30,471) (35,834) (41,925) 41,000 48,071 55,883 64,498 73,982 84,407 (11,250) (14,579) (18,582) (23,356) (27,630) (31,705) (13,500) (13,254) (15,485) (16,769) (17,959) (20,608) 16,250 20,238 21,816 24,373 28,393 32,094 (5,500) (5,450) (5,405) (6,865) (7,678) 17,710) 10.750 14,788 16,411 17,508 20,715 24,383 175) (6,800) (6,800) (6,800) (7,820) (8,160) 10,675 7,988 9,611 10,708 12,895 16,223 13,736) (2,796) (3,364) (3,748) (4,513) (5,678) 6,939 5,193 6,247 6,960 8,382 10,545 n Estimated 2005 Income Statement Data for Ideko Corporation Income Statement ($ 000) Sales 75,358.78 Cost of Goods Sold Raw Materials (16,617.68) Direct Labor Costs (18,432.2) Gross Profit 40,308.9 Sales and Marketing (11,401.78) Administrative (13,504) EBITDA 15,403.12 Depreciation (5,450) EBIT 9,953.12 Interest Expense (net) (78) Pretax Income 9,875.12 Income Tax (3,456.29) Net Income 6,418.83 Under the assumption that Ideko's market share will increase by 0.5 percent per year, you project the following investment and depreciation: 2005 5,200 (5,450) New Investment Depreciation Fixed Assets and Capital Investment ($ 000) 2007 2008 5,200 5,200 (5,403) (5,382) 2006 5,200 (5,425) 2009 5,200 (5,364) 2010 19,900 (6,818) Using this information and the information here E (IMPORTANT: Please click on the icon to import the table into a spreadsheet and use all the values as rounded on the spreadsheet. DO NOT recalculate the forecasted values.), project net income through 2010 (that is, reproduce Table 19.7 under the new assumptions). Assume the corporate tax rate is 35%. Ideko's income statement for 2005 is shown here Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Sales 75,359 84,685 94,956 106,258 118,687 132,344 The next items in the income statement detail the cost of goods sold. (Round to the nearest $ 000.) Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Raw Materials (16,618) (18,501) (20,538) (22,747) (25,158) (27,788) The same method can be applied to determine the direct labor costs. (Round to the nearest $ 000.) Income Statement ($ 000) 2005 2006 2007 2008 2009 2010 Direct Labor Costs (18,432)| Year 2008 Growth 2005 2006 2007 2009 2010 5% 0.5% 2% 10,100 10.15% 73.5100 10,605 10.65% 74.9802 11,135.25 11.15% 76.4798 11,692.01 11.65% 78.0094 12,276.61 12.15% 79.5696 12,890.44 12.65% 81.1610 Sales Data Market Size (000 units) Market Share Average Sales Price ($/unit) Cost of Goods Data Raw Materials ($/unit) Direct Labor Costs ($/unit) Operating Expense Data Sales and Marketing (% sales) Administrative (% sales) Interest on Term Loan ($ 000) 1% 4% 16.2100 17.9800 16.3721 18.6992 16.5358 19.4472 16.7012 20.2251 16.8682 21.0341 17.0369 21.8754 15.13 16.68 18.23 19.78 20.33 20.33 17.92 (78) 14.92 (6,956) 14.92 (6,956) 13.92 (6,956) 12.92 (6,956) 12.92 (6,956) TABLE 19.7 SPREADSHEET Pro Forma Income Statement for ldeko, 2005-2010 Year 2005 2006 2007 2008 2009 2010 75,000 88,358 103,234 119,777 138,149 158,526 Income Statement ($ 000) 1 Sales 2 Cost of Goods Sold 3 Raw Materials 4 Direct Labor Costs 5 Gross Profit 6 Sales and Marketing 7 Administrative 8 EBITDA 9 Depreciation 10 EBIT 11 Interest Expense (net) 12 Pretax Income 13 Income Tax 14 Net Income (16,000) (18,665) (21,593) (24,808) (28,333) (32,193) (18,000) (21,622) (25,757) (30,471) (35,834) (41,925) 41,000 48,071 55,883 64,498 73,982 84,407 (11,250) (14,579) (18,582) (23,356) (27,630) (31,705) (13,500) (13,254) (15,485) (16,769) (17,959) (20,608) 16,250 20,238 21,816 24,373 28,393 32,094 (5,500) (5,450) (5,405) (6,865) (7,678) 17,710) 10.750 14,788 16,411 17,508 20,715 24,383 175) (6,800) (6,800) (6,800) (7,820) (8,160) 10,675 7,988 9,611 10,708 12,895 16,223 13,736) (2,796) (3,364) (3,748) (4,513) (5,678) 6,939 5,193 6,247 6,960 8,382 10,545 n Estimated 2005 Income Statement Data for Ideko Corporation Income Statement ($ 000) Sales 75,358.78 Cost of Goods Sold Raw Materials (16,617.68) Direct Labor Costs (18,432.2) Gross Profit 40,308.9 Sales and Marketing (11,401.78) Administrative (13,504) EBITDA 15,403.12 Depreciation (5,450) EBIT 9,953.12 Interest Expense (net) (78) Pretax Income 9,875.12 Income Tax (3,456.29) Net Income 6,418.83