. Chapter 8 I Forecasting Financial Perform ing an Income Statement and Balance Sheet following income statement and balance sheet for the current year: Snickers Candy Corp. reports the ES-5. Forecasting Sales COGS Gross profit. Operating expenses excluding $126,758 (78,590 48,168 21,549 17,386 3,169 6,084 (2,129) Pre-tax profit Tax expense @ 35%. Net income Cash 3,955 .. . 10,479 6,338 17,290 173,658 (69,463) tories PPE, gross Total Assets 12,676 22,107 . 63,379 Total current liabilities.. Long-term debt Common stock. . 21,126 31,690 $138,302 Retained earnings Total liabilities and equity Required: Using the following assumptions, forecast Snickers' income statement and balance sheet for next year (use cash as your plug figure to balance the balance sheet): +18% 38%) 17% $17,366 $3,169 35% 20% 6% 25% Sales growth rate Gross profit margin (% sales) Operating expenses excluding depreciation (% sales) Depreciation expense Interest expense Tax expense (% pre-tax profit) Dividends (9% forecasted net income) . Accounts receivable (96 sales) Inventories (% COGS) PPE, gross ....No change 1396 896 .. No change No change payable (% COGS). Accrued liabilities (% sales) Long-term debt ata from E8-5 and your forecasted