0" class="ng-binding ng-scope" style="box-sizing: inherit; margin-bottom: 1.25rem; padding: 0px; line-height: 1.6; font-family: inherit; font-size: 1rem; text-rendering: optimizelegibility;">0 / 5 1"...

1 answer below »

View more »
Answered Same DayOct 28, 2020UNIT 3

Answer To: 0" class="ng-binding ng-scope" style="box-sizing: inherit; margin-bottom: 1.25rem; padding: 0px;...

Payal answered on Oct 31 2020
150 Votes
Proforma Income statement
    FINA310 UNIT 3 IP TEMPLATE FOR STUDENTS
            Student name:
            Date:

                    ACTUAL    FORECAST    FORECAST BASIS
                    2018    2019
        Total Revenue            $71,879    $79,067    1.1 X 2018 Sales
            Cost of Revenue        ($51,125)    ($56,137)    71% of 2019 sales
        Gross Profit            $20,754    $22,929
        Operating Expenses:
            Selling, General, and Administrative        ($14,248)    ($15,813)    20% of 2019 sales
            Research and Development        $0    $0
            Special Income/Other Charges        ($2,194)    ($2,194)    same as 2018
        Total Operating Expenses            ($16,442)    ($18,007)
        Operating Income            $4,312    $4,922
        Net Interest Expense            ($666)    ($735)    0.93% of 2019 sales
        Pre-Tax Income            $3,646    $4,187
            Provision for Income Tax (19.5%)        ($711)    ($816)    19.50% of Pre-tax Income
        Net Income            $2,935    $3,370
Solutions
    1    An updated income statement for the next...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here
April
January
February
March
April
May
June
July
August
September
October
November
December
2025
2025
2026
2027
SunMonTueWedThuFriSat
30
31
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
1
2
3
00:00
00:30
01:00
01:30
02:00
02:30
03:00
03:30
04:00
04:30
05:00
05:30
06:00
06:30
07:00
07:30
08:00
08:30
09:00
09:30
10:00
10:30
11:00
11:30
12:00
12:30
13:00
13:30
14:00
14:30
15:00
15:30
16:00
16:30
17:00
17:30
18:00
18:30
19:00
19:30
20:00
20:30
21:00
21:30
22:00
22:30
23:00
23:30