Prepare a pro forma income statement for 2011. Assume that sales increase to $87 million as a
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Prepare a pro forma income statement for 2011. Assume that sales increase to
$87 million as a result of the plant expansion. Also assume that the cost of sales and selling and administrative expense ratios (as a percentage of sales) remain constant. Finally, assume that interest expense and the firm’s tax rate remain the same in 2011. LO1
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