6.Table 3.5 presents a computer spreadsheet for estimating R&E Supplies external financing required for 2015. The text mentions that with modifications to the equations for equity and net sales, the forecast can easily be extended through 2016. Write the modified equations for equity and net sales.

TABLE 3.5 Forecasting with a Computer Spreadsheet Pro Forma Financial Forecast for R&E Supplies, Inc., December 31, 2015 (S thousands) Year 4 Actual 3 Net sales S20,613 4 Growth rate in net sales 25.0% L4 Cost of goods sol sales 86.0% Gen., sell, and admin. expensesnet sales 7 Long-term debt 760 8 Current portion long-term debt S 100 a Interest rate 10.0% Tax rate 11 Dividend/earnings after tax 12 Current assetset sales 13 Net fixed assets $280 14 Current liabilitiesnet sales 145% Owners' e 16 INCOME STATEMENT Equations Forecast Forecast B3 B3 C4 Net sales 20 Cost of goods sold C5 C19 22.159 2 Gross profit C19 C20 22 Gen, sell, and admin. exp. C6 C19 C9 C7 C8 C40 23 Interest expense C21 C22 C23 24 Earnings before tax Tax C10 C24 26 Earnings after tax C24 C25 27 Dividends paid C11 C26 28 Additions to retained earnings C26 C27 78 30 BALANCE SHEET 31 Current assets C12 C19 7,472 32 Net fixed assets C13 33 Total assets C31 C32 7.752 3s current liabilities C14 C19 3,736 35 Long-term debt C7 Owner's equity B15 C28 38 Total liabilities and owners' C35 C36 C37 equity s 1,548 LAD EXTERNAL FUNDING REQUIRED C33 -C38