You work as financial analyst in the investment bank. You received this excel file and your Senior Manager asked you to prepare a preliminary income statetment forecasts for the kids clothing manufacturing company based on the table 1. In Management discussion and analysis part of the 10K report top management claims that they will achive at least 5% sales growth in the next two years. Industry report shows that the segment of clothing for children has been growing between a maximum of 6% and minimum of 2% You also found an equity report for the company. Analysts who wrote the report used 4% sales growth in the next three years. The report also forecasted quite stable cost and profit ratios. Table 1 In Millions of USD 12 Months Ending Sales & Services Revenue - Cost of Goods & Services Gross Profit - Selling, General & Admin Operating Income (Loss) + Non-Operating Income (Loss) - Interest Expense Pretax Income (Loss) - Income Tax Expense (Benefit) Net Income, GAAP FY 2014 31-Dec 21,063 13,936 7,200 4,014 3,186 266 (284) 3,168 (768) 2,400 FY 2015 31-Dec 19,561 12,898 6,663 3,677 2,986 262 (282) 2,966 (828) 2,138 FY 2016 31-Dec 19,724 13,041 6,683 3,709 2,947 266 (284) 2,929 (856) 2,073 FY 2017 31-Dec 18,591 11,917 6,674 3,402 3,272 278 (295) 3,255 (418) 2,837 FY 2018 31-Dec 18,202 11,545 6,657 3.294 3,363 308 (319) 3,352 (922) 2,430 - You are expected to check for any formula mistakes, by recalculting 22 all subtotals. You should properly edit and format the information as your manual expects you to (pdf course file). DO NOT FORGET THE SIGNS 23 FORMAT. Use vertical analysis. Calculate all the cost and profit ratios for the 24 company using Sales as 100%. Develop forecasts for Sales for 2019. Explain in one sentence how 25 you determined the growth rate. Forecast all profit margins and 26 costs 27 Calculate Net income 28