you were given SkyBlue's 2018 income statement (IS) and balance sheet (BS), along with forecasts of the revenue growth and tax rates You must forecast the IS and BS for the next 3 years. 3.1% rate

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A B D E F Actual 2018 124 Projected 2019 2020 Income Statement - Taxes 2021 Notes Use implicit rate of 2018 Calculation 466 300 = Net Income Balance Sheet Cash Notes and Acc. Rec. Inventory Prepaid Increase at average growth rate 1,300 1,100 80 Current Assets Other Total Assets 2,780 1,300 4,080 Hold at 2018 level Bank Loan Payables CPLTD Other Current Liabilities LTD Equity 830 100 100 125 See below Increase at average growth rate Hold at 2018 level Hold at 2018 level 1,155 675 2,250 LTD of previous year minus CPLTD of current year Equity of previous year plus net income of current ye Working Capital 2,455 Exclude Bank Loan Note: the Bank Loan is a plug figure. Its formula starts with total assets and subtracts the liability and equity accounts. If the Bank Loan number is positive, it is debt. If negative, it is basically cash