prepare a projected income statement for 2019, based on the patterns in the years 2015 through 2018

Income Statement 2015 $78,000 $40,000 $38,000 For Year Ended 2016 2017 $52,000 $41,000 $45.000 $38,000 $7,000 $3,000 2018 $36,000 $40,000 ($4,000) $3,000 $2,000 $0 $0 Sales LESS Cost of Goods Sold Gross Profit LESS Marketing Expenses LESS Gn'l & Admin Expenses LESS Depreciation Operating Profit LESS Interest Expense Profit Before Taxes LESS Taxes Net Profit $1,000 $10.000 $24,000 $1,000 $23,000 $9.200 $13,800 $1,000 $10,000 ($6,000) $1,000 ($7,000) $4.000 ($11,000) $1,000 $10,000 ($8,000) $1,000 ($9,000) $3.000 ($12.000) $1,000 $10,000 ($15,000) $1,000 ($16,000) $2.800 ($18.800) Balance Sheet $20,000 $1,100 $0 ASSETS Cash Accounts Receivable Inventory TOT CURRENT ASSETS Truck & Equipment LESS Accumulated Depreciation NET TRUCK & EQUIPMENT TOTAL ASSETS $24,000 $2,000 $15.000 $41,000 $120,000 $4.300 $2,000 SO $7.000 $9,000 $120,000 $18.000 $38,000 $120,000 $5,400 $120,000 $10.000 $20,000 $30.000 $40,000 $110,000 $151.000 $100,000 $138.000 $90,000 $99.000 $80,000 $85.400 DEBT Accounts Payable Short-term Notes Payable Long-term Debt Owner's Capital Retained Eamings TOTAL DEBT $22,000 $1,200 $125,000 $2,000 $800 $151,000 $10,200 $1,200 $74,000 $26,000 $1,400 $100,000 $10,000 $600 $138,000 $14,200 $700 $84,000 $100 $0 599,000 $85,400