Problem: 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). FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2017 Assets AR to Sales ratio Cash & Short-Term Investments 2,216 2,538 3,595 Inv to COGS ratio Short-Term Receivables 1,890 2,029 1,952 Other current asset to Sales Inventories 11,809 12,549 12,748 AP to COGS ratio Other Current Assets 1,078 608 638 Income Tax Payable to Sales Total Current Assets 16,993 17,724 18,933 Other current liabilities to Sales Property and equipment, at cost 39,266 40,426 41,414 Accumulated depreciation and amortization 17,075 18,512 19,339 Net Property, Plant & Equipment 22,191 21,914 22,075 Intangible Assets 2,665 2,093 2,275 Deferred Tax Assets 48 91 119 Other Assets 652 1,144 1,127 Total Assets 42,549 42,966 44,529 Liabilities & Shareholders' Equity ST Debt & Curr. Portion LT Debt 427 1,252 2,761 Accounts Payable 6,565 7,000 7,244 Income Tax Payable 36 25 54 Other Current Liabilities 5,498 5,856 6,135 Total Current Liabilities 12,526 14,133 16,194 Long-Term Debt 20,888 22,349 24,267 Deferred Tax Liabilities 854 296 440 Other Liabilities 1,965 1,855 2,174 Total Liabilities 36,2