For 2017, Echo Training Associates is projecting a 10% increase in revenue, a 15% increase in other operating expenses, an 8% increase in cost of services, and $500 of additional depreciation. Using the data from the 2016 profit and loss statement, prepare a projected 2017 profit and loss statement.

Echo Training Associates
		2016	2017	2018
Selling Activites		$2,016.00
Revenue		$121,000.00
Cost of Services		$81,000.00
Gross Profit		$4,000.00
Other Operating Expenses		$23,400.00
Depreciation		$2,200.00
Total operating expenses		$25,600.00
Profit Before Taxes		$14,400.00
Income Taxes		$3,024.00
Net Profit		$11,376.00

Using the results of problem 7, prepare a projected 2018 profit and loss statement for Echo Training Associates assuming a 30% decrease in revenue and a 20% decrease in cost of services and other operating expenses.