The Eagle Feather Fabric Company expects to complete the current year with the financial results given below.

Forecast next year using a modified percentage of sales method assuming no dividends are paid and no new stock is sold along with the following:

1. A 21% growth in sales and a 40% growth in net fixed assets.
2. A 15% growth in sales with a 10% growth in expenses and a 20% growth in net fixed assets. (Note that negative debt means the business will generate more cash than is currently owed.)

Enter your answers in thousands. For example, an answer of $12 thousands should be entered as 12, not 12,000. Round your answer to the nearest thousand. Enter all amounts as a positive number.

INCOME STATEMENT ($000) Current Year Next Year b. Revenue COGS Gross Margin Expenses EBIT Interest (11%) EBT Tax (42%) Net Income $36,100 14,440 $21,660 12,635 $9,025 625 $8,400 3,528 $4,872 BALANCE SHEET ($000) Assets Cash Accounts receivable Inventory Current assetsS Net fixed assets Total Assets $1,000 5,000 2,888 $8,888 7,250 $16,138 Liabilities & equity Accounts payable Accruals Current liabilities Debt Equity Total L&E $1,550 530 $2,080 5,598 8,460 $16,138