Pro-Forma Income Statement Gamma Manufacturing, Inc., is a manufacturer of electric pencil sharpeners. The following is information regarding Gamma Manufacturing for the fiscal year-end, May 31, 2009:

Assume a tax rate of 33%. Prepare a pro-forma income statement for the year ended May 31, 2009, for Gamma Manufacturing, Inc. (Note that Gamma Manufacturing does not have workin-
process inventory.)

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Beginning finished goods inventory Ending finished goods inventory Interest expense Selling and administrative expenses Sales revenue Direct materials used Direct labor Manufacturing overhead $ 51,000 48,000 29,000 69,000 445,000 57,000 62,000 33,000