Information for the following 4 questions. The most recent financial statements for Wink Inc. are as follows:

Income Statement
Revenues	$120 M
CGS	50
Selling expenses	30
Depreciation	20
Interest expense	10
Taxable income	10
Taxes (40%)	4
Net income	6

Balance Sheet
Cash	$ 1 M		AP	3
AR	4		LTD	30
Inventory	5		CS	52
Net fixed assets	90		RE	15
Total Assets	100		Liab+Equity	100

Wink's revenues will grow by 10% next year. It is expected that capital expenditures will equal depreciation. Depreciation and interest expense for next year are the same as last year. Firm's payout ratio is 30%.

What is the interest coverage ratio?

Using percent of sales method, what is the projected amount for COGS and NI for next year.

What is the retained earnings amount in the pro forma balance sheet?

Find if the firm needs financing or has excess funds for next year.