1. HOW TO PREPARE PROJECTED INCOME STATEMENT FOR THE YEAR ENDING 31 OCTOBER 2020?

SUBJECT IS : PROJECT FINANCIAL MANAGEMENT.

2. projected statement of financial position as at 31 october 2020

information: Stanwick Ltd, a manufacturing concern, is making financial plans for one of its projects for the 12 months commencing 01 November 2019. The estimates of the operating results and financial position at the year end 31 October 2019 are show in the statements below. Sales: 1 800 000; cost of sales (1140000); Labour: 450 000; Materials: 260 000; Overheads 370 000; Depreciation 60 000; Gross Profit 660 000; Operating expenses (300 000); Selling expenses 138 000; General and administrative expenses 162 000; Operating profit 360 000; Interest expense (40 000); Profit before tax 320 000; Income tax (96 000); Profit after tax 224 000.