Cent.. Exercise 3. (20 points) Comparative income statements for Beta Company are shown below (S millione). Use the following ratios to prepare a projected income statement for Year 3. Income Statement Beta Company Year 2 Year 1 $47,71 $403 6 43 Net Sales $28,9 $22.4 44 Cost of Goods Sold $18,7 $17.9 39 00 Gross Profit 3146 $6.531 S140121 Selling general and Administrative expenses Doprociation and Amortization expense Intrast Expense Gross Profit e-Exam Cen.. 77 44 $18,7 $17,9 39 00 Selling general and Administrative expenses $6,531 $6,46 9 Depreciation and Amortization expense $1,46 4 $1,277 Interest Expense $342 $329 Income before tax $10,4 $9,82 02 4 $3,121 $3,00 2 Income tax expense $7,281 $6,82 2 Net Income 2976 2968 Outstanding shares Ratios 18.25 39.271 Sales Growth 13.69 Gross profit Margin Selling General and Administratibe Exp/ Sales Depreciation Depreciation Exp Pro Year PRECES Ratios ning Platform. UNYT e-Exam Cent Sales Growth Gross profit Margin 18.28% 39.27% Selling General and Administratibe Exp/ Sales 13.69% Depreciation (Depreciation Exp/ Prior Year PPE gross 8.76% Interest (Interst/ Prior year Long Term Debt 4.94% 30.00% Tax (Income Tax/ Pre-tax Income) Year 2 Property Plant and Equipment = $ 18,956 Year 2 Long Term Debt = 5 4,799