\begin{tabular}{|lccc|} \hline \multicolumn{1}{|c|}{ Income statement } & & & \\ \hline Sales & 2016 & 2017 & 2018 \\ \hline Cost of goods sold & 5510 & 6040 & 6530 \\ \hline SG\&A expense & 4542 & 5051 & 5366 \\ \hline Depreciation & 425 & 435 & 485 \\ \hline Interest expense & 82 & 74 & 69 \\ \hline Interest income & 65 & 42 & 53 \\ \hline Income before taxes & 4 & 2 & 3 \\ \hline Income tax & ??? & ??? & ??? \\ \hline Net Income/(loss) & ??? & ??? & ??? \\ \hline \end{tabular} \begin{tabular}{|lccc|} \hline & 2016 & 2017 & 2018 \\ \hline ASSETS & \multicolumn{3}{c|}{} \\ \hline Cash and equivalents & 12 & 13 & 31 \\ \hline Marketable securities & 86 & 88 & 90 \\ \hline Accounts receivable & 86 & 90 & 96 \\ \hline Inventories & 740 & 850 & 950 \\ \hline Total current assets & 924 & 1041 & 1167 \\ \hline & & & \\ \hline Property and equipment at cost & 650 & 730 & 830 \\ \hline Accumulated depreciation & 205 & 248 & 312 \\ \hline Net property and equipment & ??? & ??? & ??? \\ \hline & & & \\ \hline Other non-current assets & 85 & 100 & 85 \\ \hline Total assets & 1454 & 1623 & 1770 \\ \hline \end{tabular} \begin{tabular}{|lccc|} \hline LIABILITIES & 350 & 423 & 428 \\ \hline Accounts payable & 220 & 250 & 285 \\ \hline Accrued expenses & 570 & 673 & 713 \\ \hline Total current liabilities & 380 & 360 & 460 \\ \hline Long-term debt & 950 & 1033 & 1173 \\ \hline Total Liabilities & & & \\ \hline & & & \\ \hline Shareholders' equity & 480 & 480 & 480 \\ \hline Common stock & 24 & 110 & 117 \\ \hline Retained earnings & 504 & 590 & 597 \\ \hline Total shareholder's equity & & & \\ \hline & 1454 & 1623 & 1770 \\ \hline Total Liabilities and Equity & & & \\ \hline \end{tabular} NWC in 2016 Question 25 NWC in 2017 Question 26 NWC in 2018 Increase in NWC in 2017 Question 28 Increase in NWC in 2018 Question 29 FCF in 2017 FCF in 2018