Based on your answers to problem 11, construct a first-quarter 2022 cash flow forecast for Westmark Industrial.

Data from Problem 11

Westmark Industrial’s annual income statement and balance sheet for December 31, 2021, are shown next. Additional information about the company’s accounting methods and the treasurer’s expectations for the first quarter of 2022 appear in the footnotes.

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Net sales Income Statement January 1, 2021 to December 31, 2021 ($ thousands) Cost of goods sold¹ Gross profits Selling and administrative expenses² Interest expense Depreciation³ Net profit before tax Tax (33%) Net profit after tax $6,000 3,900 2,100 1,620 90 90 300 99 $ 201