问题如下：
Which of the following statements about projection net income and cash flows of a firm is least likely to correct?
选项：
A. An analyst assume a constant relationship between the firm's sales and its interest expenses.
B. An analyst assume a constant relationship between the firm's sales and its cost of goods sold.
C. An analyst assume a constant relationship between the firm's sales and its noncash working capital.
解释：
A is correct.
When projecting net income and cash flows, analysts typically assume that cost of goods sold, operating expenses, and noncash working capital remain a constant percentage of sales. Based on the projection, analysts will know if the firm need additional borrowing or not. Then the interest expense will be adjusted to reflect the additional debt.
为什么sales和non cash working capital有线性关系呢？