The "Percent of Sales Method" Is a Method of Preparing

The "percent of sales method" is a method of preparing pro forma financial statements.All of the following would be examples of how the "percent of sales method" is developed except?

A) Forecast expenses by applying a percent of projected sales, using last year's expenses as a percent of last year's sales.
B) Forecast assets by applying a percent of projected sales, using current year's assets as a percent of current year's sales.
C) Approximate liabilities by applying a percent of projected sales, using the last five-year average of liabilities as a percent of sales.
D) Forecast retained earnings by applying a percent of projected sales, using current year's retained earnings as a percent of current year's sales.