please help! show formulas and answers!

Assumptions below

Operating Assumptions: Sales will grow at 7% per year in the next 5 years.

Cost of sales will be 67% of total sales in the next 5 years.

SG&A will be 17% of total sales in the next 5 years.

Annual Depreciation and Amortization increases by 60 in each of the next 5 years.

Capital expenditure (CapEx) will be 1,200 in each of the next 5 years.

Income Statement Assumptions:

Interest and investment income is 2.5% of the ending Cash & Short-Term Investments in the previous year.

Interest rate on debt is 5% based on the ending ST Debt & Curr. Portion LT Debt and Long-Term Debt in the previous year.

Tax rate is assumed to be 21%.

1,184 million common shares outstanding.

Dividend payout ratio = 50%

Working Capital Assumptions

In the next 5 years, AR to Sales ratio remains the same as that in the most recent fiscal year (FY2017).

In the next 5 years, Inventory to COGS ratio remains the same as that in the most recent fiscal year (FY2017).

In the next 5 years, Other current assets to Sales ratio remains the same as that in the most recent fiscal year (FY2017).

In the next 5 years, AP to COGS ratio remains the same as that in the most recent fiscal year (FY2017).

In the next 5 years, Income Tax Payable to Sales ratio remains the same as that in the most recent fiscal year (FY2017).

In the next 5 years, Other current liabilities to Sales ratio remains the same as that in the most recent fiscal year (FY2017).

Assets Assumptions:

Intangible assets grows at the same rate as sales (7%) in the next 5 years

Deferred tax assets grows at the same rate as sales (7%) in the next 5 years

Other assets grows at the same rate as sales (7%) in the next 5 years

Deferred tax liabilities grows at the same rate as sales (7%) in the next 5 years

Other liabilities grows at the same rate as sales (7%) in the next 5 years

Debt Assumptions

Short-term debt increases by 2% in each year.

Long-term debt decreases by 8% each year.

Valuation Assumptions

Future annual cash flow from assets (CFFA) growth rate (beyond 2022) is assumed to be 5%.

Weighted average cost of capital (WACC) is 9%.

3. Create projected balance sheet for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the information provided in the Assumptions worksheet.

***Hint: Working capital accounts may be calculated based on the working capital ratios in FY2017 (See Working Capital Assumptions).

***Hint: Cash account information may be obtained based on the completed cash flow statement (Q4).

J K L M FY2017 1,890 AR to Sales ratio Inv to COGS ratio Other current asset to Sales AP to COGS ratio Income Tax Payable to Sales Other current liabilities to Sales 1,078 B C D H I 3. Create projected balance sheet for years 2018, 2019, 2020, 2021, and 2022 based on the historical financial statements as well as the 1 information provided in the Assumptions worksheet. 2 ***Hint: Working capital accounts may be calculated based on the working capital ratios in FY2017 (See Working Capital Assumptions). 3 ***Hint: Cash account information may be obtained based on the completed cash flow statement (Q4). 4 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 5 6 Cash & Short-Term Investments - 2,216 2,538 3,595 7 Short-Term Receivables 2,029 1,952 8 Inventories 11,809 12,549 12,748 9 Other Current Assets 608 638 10 Total Current Assets 16,993 10,99 17,724 18,933 0,3 11 Property and equipment, at cost 39,266 40,426 41,414 12 Accumulated depreciation and amortization 17,075 18,512 19,339 13 Net Property, Plant & Equipment 22,191 21,914 22,075 14 Intangible Assets 2,665 2.093 2,275 15 Deferred Tax Assets 48 91 119 a 16 Other Assets 652 1,144 1,127 17 Total Assets 42,549 42,966 44,529 18 19 Liabilities & Shareholders' Equity an ei 20 ST Debt & Curr. Portion LT Debt 427 1,252 2,761 6,565 7,000 7,244 22 Income Tax Payable 36 25 54 23 Other Current Liabilities 5,498 5,856 6,135 24 Total Current Liabilities 12,526 14,133 16,194 25 Long-Term Debt 20,888 22,349 24,267 26 Deferred Tax Liabilities 854 296 440 27 Other Liabilities 1,965 1,855 2,174 28 Total Liabilities 36,233 38,633 43,075 29 Common Equity 6,316 4,333 1,454 30 Total Shareholders' Equity 6,316 4,333 1,454 31 Total Equity 6,316 4,333 1,454 32 Total Liabilities & Shareholders' Equity 42,549 42,966 44,529 33 34 35 36 37 21 Accounts Payable