Question: please solve this for me using the data Stevens Textile Corporation (STC) is a major supplier of textiles (linens, towels ete.) to several high-end department

Stevens Textile Corporation (STC) is a major supplier of textiles (linens, towels ete.) to several high-end department stores like Saks Fifth Avenue, Neiman Marcus, Nordstrom etc. The financial statements of STC are shown below. STC grew rapidly in 2022 and financed the growth with notes payable and long-term debL. STC expected sales to grow by 15% in the next year but will finance the growth with a line of credit. Use the forecasted financial statement method to forecast STC's balance sheet, inconse statement. and its liquidity position (f.e., financing gap) for December 2023. The interest rate on all debt is 10% and cash earns no interest income. STC is currently operating at full capacity (of sales), which means that the firm is utilizing both its working capital (1.c,, current assets) and fixed assets to generate the maximum capacity sales in 2022. Therefore, any projected increase in sales will necessitate an increase in all spontaneous assets plus its fixed assets since fixed assets are currently being used at full capacity. Income statement for December 31.2022 (millinm _f 1+11 ars) Stevens Textile Corporation (STC) is a major supplier of textiles (linens, towels ete.) to several high-end department stores like Saks Fifth Avenue, Neiman Marcus, Nordstrom etc. The financial statements of STC are shown below. STC grew rapidly in 2022 and financed the growth with notes payable and long-term debL. STC expected sales to grow by 15% in the next year but will finance the growth with a line of credit. Use the forecasted financial statement method to forecast STC's balance sheet, inconse statement. and its liquidity position (f.e., financing gap) for December 2023. The interest rate on all debt is 10% and cash earns no interest income. STC is currently operating at full capacity (of sales), which means that the firm is utilizing both its working capital (1.c,, current assets) and fixed assets to generate the maximum capacity sales in 2022. Therefore, any projected increase in sales will necessitate an increase in all spontaneous assets plus its fixed assets since fixed assets are currently being used at full capacity. Income statement for December 31.2022 (millinm _f 1+11 ars)
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