3. Using the methodology outlined in Exhibit 11.11, forecast the operating items on the next five years of balance sheets for PartsCo. Forecast each balance sheet item as a function of revenues, except inventory and accounts payable, which should be forecast as a function of cost of sales. Your forecast should be consistent with the revenues and cost of sales forecast in Question 2. (Note that Exhibit 11.11 converts figures to number of days. You do not need to go this extra step. You can just compute the historical ratios as a percentage of either revenue or cost of goods sold and use those ratios for the forecast.)