Using the selected financial statements below for Micro Chip Computer Corporation answer the following questions based on the financial data in 150-200 words.

Micro Chip Computer Corporation

Selected Financial Data

1. Determine the year-to-year percentage annual growth in total net sales.
2. Based only on your answers to question #1, do you think the company achieved its sales goal of +10% annual revenue growths in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company hit its target.

PART 2

Next, consider Micro Chip’s Consolidated Statement of Operations for the year ended September 25, 2008.  Using the information from the Consolidated Statements of Operations answer question 1 and 2 below in 150-200 words.

Micro Chip Computer Corporation

Consolidated Statements of Operations for the period September 26, 2007 through

1. Use the Percentage Sales Method and a 20% increase in sales to forecast Micro Chip’s Consolidated Statement of Operations for the period of September 26, 2008 through September 25, 2009. Assume a 15% tax rate and restructuring costs of 2% of the new sales figure.
2. Discuss your results from question number #1. What assumptions have you made? Do any of your assumptions seem unreasonable?

PLEASE MAKE SURE THE INFORMATION IS INCLUDED. Thanks

Please be sure to show all work, including formulae and calculations used to arrive at the financial values. If you use Microsoft Excel you must provide an adequate explanation of the methodology used to arrive at that answer.