A B C D E F G 1 Income Statement (in millions $) 2 Year Ended December 31 3 4 Sales 5 Cost of Sales 6 Depreciation 2018 Proforma 2019 Ratio 53700 9600 56385 10080 0.18 1500 1446.043165 0.11 46305 15120 0.27 8400 0.15 2100 7 Amortization 4900 205.5650685 0.04 8 Gross Income 37700 9 Selling, General, Administrative Expenses 14400 10 Research and Development 8000 11 Other Expenses 2100 12 Interest Expense 1300 1189.956958 0.02 13 Pre-Tax Income 14 Tax 15 Net Income 16 17 EBIT 11900 700 11200 19385 1140.294118 0.06 18244.70588 13200 20685 H Assumptions for 2017 Net PPE Intangible Assets Long-term debt Assumptions Sales grew by 5% 13900 116800 69700 A 1 Balance Sheet 2 Year Ended December 31 3 B D E F G 4 2018 Proforma 2019 Ratio 5 Cash 18800 19740 0.35009311 6 Net Receivables 8000 8400 0.14897579 7 Inventory 7500 15421.875 0.78125 8 Other Current Assets 15600 15600 9 Current Assets 49900 59161.875 10 Net PPE 13400 17953.95683 11 Intangible Assets 96100 96100 12 Total Assets 159400 173215.8318 13 14 Accounts Payable 4700 4935 0.48958333 15 Short Term Debt 8800 8800 16 Other Current Liabilities 18400 18400 17 Current Liabilities 31900 32135 18 Long Term Debt 63800 71136.12595 19 Total Liabilities 95700 103271.126 20 Stock holders' Equity 63700 69944.70588 173215.8318 21 Total Liabilities and Equity 159400 22 23 Assumptions The firm will buy another $6,000M in property, plant, 24 and equipment A dividend of $12,000M 25 will be paid out next vear Issued long term debt to meet funding need of 7336.125952 M d) The free cash flow is the cash available to pay out to your investors (i.e. your bondholders and stockholders). According to your pro-formas, how much do you plan to pay your investors in 2019? (This will be the sum of interest and dividend payments.) By how much does this exceed the free cash flow you calculated in part (c)