7. (15 points) Use the information about In-N-Out to answer the following question(s): I In-N-Out...
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7. (15 points) Use the information about In-N-Out to answer the following question(s): I In-N-Out Figures in $ millions Income Statement 2020 Balance Sheet 2020 Net Sales 246,0 Assets Costs exc. Dep. 187.0 Cash 8.0 EBITDA 59.0 Accts. Rec. 21.0 Depreciation 17.2 Inventories 23.0 Total Current Assets EBIT 41.8 52.0 Interest 12.0 Net PP&E 145.0 Pretax Income 29.8 Total Assets 197.0 Taxes 10.4 Net Income 19.4 Liabilities and Equity Accts. Payable 18,0 Long-Term Debt 82.0 Total Liabilities 100.0 Total Stockholders' Equity 97.0 Total Liabilities and Equity 197.0 I a. b. Using the percent of sales method, and assuming 20% growth in sales and no change in interest expense, estimate In-N-Out' Pretax Income for 2021. (5 points) Using the percent of sales method, and assuming 20% growth in sales and no change in interest expense, estimate In-N-Out' Net Income for 2021. (5 points) Using the percent of sales method, and assuming 20% growth in sales, estimate In-N-Out' Accounts Payable for 2021. (5 points) c
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