Please click on this hyperlink to find the handout for this assignment. This is a combo zsigment for Classes 13 and 14 so it is long and comprehensive so please start as soon as you can! Time Elapsed: Hide Attempt due Oct 25 4 Days, 6 Hours, 10 N Seconds Good luck! D Question 1 3 pts itions HE Evaluations hks Draymond Green, an investment manager at Bay Area investments, intends to hire a new investment analyst. After conducting initial interviews, Green has narrowed the pool to three candidates. She plans to conduct second interviews to further assess the candidates knowledge of industry and comparty analysis. Prior to the second interview, Green asks the candidates to analyze Golden State Corp, a company that manufactures internet networking products. Each candidate is provided Golden's financial information presented in Exhibit 1. Exhibit 1 - Golden State Corp Selected Financial Information in millions of 5) 2017 2018 2010 Net sales 49 59.4 578 Cost of sales 15.6 173 16.4 Gross profit Green asks each candidate to forecast the 2020 income statement for Golden and to outline the key assumptions used in their analysis. The job candidates are told to include an economic outlook for 2020 in their analysis, which assumes nominal GDP growth of 3.2% Exhibit 2 - Summary of Key Assumptions Used in Candidates Models Metric Candidate A Candidate Candidate Net sales will grow at the Industry sales will grow at the Net sales of 2020 will average annual growth rate in same rate as nominal GOP but grow 50 basis points Net sales net sales over the 2017-2019 Golden will have a 2 percentage slower than nominal time period. points decline in market share. GDP Cost of 2020 gross marginwill be some 2000 gross marginwil decine as the average annual gross costs increase typected margin over the 2017-2019 inflation time period. 2020 gross marginwil Increase by 20 basis points from 2019 sales Based on Exhibits 1 and 2. Candidates forecast for cost of sales in 2020 is dorest to? Please round your answer to 2 decimal places