1a. Pro Forma Income Statement

Prepare a pro forma income statement and balance sheet for Thibodaux Inc. for 2020.

For the Pro Forma Income Statement 2020:

SALES = increase of 18.25% over 2019, 2019 Sales were $6,765,328

Gross Profit margin 60%,

There are No Preferred Stock,

OTHER EXP $1,500,000,

Depreciation $500,000,

Interest = 10.5% Rate on Notes and LTD (see BS below, round to closest 1,000)

Taxes 50%,

CS Dividend Payout Ratio 40% of NI

2019 2020

SALES..$6,765,328..$8,000,000: 18.25%

2020 Pro Forma IS

Thibodaux Inc.

Sales $8,000,000

CGS

Gross Profit

Other Expenses

EBDIT

1. Profit after Taxes $_____________________________

2. Dividends $______________________________

3. Earnings Available to Common Stockholders $________________________

4. Contribution To Retained Earnings $_____________________