(Solved): Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under ...

Prepare forecasts of its income statement, balance sheet, and statement of cash flows for 20x7 under the following assumptions: a. All financial ratios remain at 20x6 levels. b. Kodak will not record restructuring costs for 20x7. c. Taxes payable are at the 20x6 level of $544 million. d. Depreciation expense charged to SG&A is $765 million and $738 million for 20x6 and 20x5, respectively. e. Gross PPE is $12,982 million and $12,963 million for 20x6 and 20x5, respectively. f. Projected current maturities of long-term debt are $13 million for 20x7. g. Capital expenditures for 20x6 and 20x5 are $1,047 and $783, respectively.