GIVEN INFO IN CURRENT YEAR COLUMN

Please help with all red X's

Problem 4-7 The Eagle Feather Fabric Company expects to complete the current year with the financial results given below. Forecast next year using a modified percentage of sales method assuming no dividends are paid and no new stock is sold along with the following: a. A 20% growth in sales and a 40% growth in net fixed assets. b. A 15% growth in sales with a 10% growth in expenses and a 20% growth in net fixed assets. (Note that negative debt means the business will generate more cash than is currently owed.) Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Round your answer to the nearest thousand. Enter all amounts as a positive number: INCOME STATEMENT ($000) Current Year Next Year Revenue $36,100 COGS 14,440 43,320 17,328 25,992 12,635 Gross Margin $21,660 $ Expenses 12,635 x EBIT $ $9,025 625 13,357 625 X X 41,515 16,606 24,909 13,899 11,010 625 x 10,385 4,362 6,023 x Interest (11%) EBT $8,400 $ $ Tax (42%) 3,528 12,732 X 5,093 x 7,639 x Net Income $4,872 $ $ BALANCE SHEET ($000) Assets Cash $1,000 $ 1,000 x $ 1,000 Accounts receivable 5,000 5,000 x 5,000 x Inventory 2,888 2,888 x 2,888 x Current assets $8,888 $ 8,888 8,888 Net fixed assets 7,250 10,150 8,700 Total Assets $16,138 $ 19,038 x $ 17,588 x Liabilities & equity Accounts payable $1,550 $ 1,550 x $ 1,550 x Accruals 530 530 530 Current liabilities $2,080 $ 2,080 $ 2,080 Debt 5,598 5,598 5,598 Equity 8,460 11,360 9,910 Total L&E $16,138 19,038 $ 17,588