Question
Lerner 5YR. Forecasted Income Statements, 2016-2020 ( $ millions)
2016
2017
2018
2019
2020
Income statement
Sales
363.0
381.0
400.1
421.0
442.0
Cost of Goods Sold (90% of Sales)
Gross profit
Operating expenses (8% of Sales)
Depreciation
2.0
2.3
2.8
3.1
3.2
Operating profit
Interest expense
0.2
0.2
0.3
0.4
0.5
Income taxes
1.4
1.6
1.8
1.7
1.8
Net income
Change in Net Working Capital 1.4 1.4 1.5 1.6 1.7
Capital expenditure 3.6 3.7 4.1 4.3 4.5