Must show ALL work with EVERY step. Would prefer this in an excel spread sheet document please, so work and formulas used are able to be found. Also this question has been asked before and is wrong. The Depreciation Expense is 60 as soon below NOT 40. Many answers to this questions have a 40 instead of the correct 60. Given the following info

Sales Growth Rate	25%
COGS / Sales	70%
Operating Expense / Sales OK	20%
Depreciation Expense (000)	$40
Interest Expense (000)	$20
Tax Rate	35%
Dividends (000)	$20

Calculate the following blank items for 20X1 Income Statement (000)

	20X0	20X1
Sales	2000	2500
Cost of goods sold	1400	1750
Gross Profit	600	750
Operating Costs	400
Depreciation Expense	60
Net Operating Profit	160
Interest Expense	20
Earning Before Taxes	140
Taxes	49
Net Income	91
Dividends	$20
Addition to Retained Earnings	$71

Must show ALL work with EVERY step. Would prefer this in an excel spread sheet document please, so work and formulas used are able to be found. Also this question has been asked before and is wrong. The Depreciation Expense is 60 as soon above, NOT 40. Many answers to this questions have a 40 instead of the correct 60.