12) When constructing pro forma income statements which of the following is the last item to be estimated? A) sales B) the change in retained earnings C) depreciation expense D) taxes 13) When constructing a pro forma income statement, which of the following is likely to be calculated first among the items listed? A) dividends B) taxes C) cost of goods sold D) interest expense becomes the "plug" figure to 14) 6) When constructing pro forma balance sheets, make the balance sheet balance. A) new fixed assets required B) addition to retained earnings C) cash D) external funding required