a. Us b. Us c. C Com near Data table (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.). Metroline Manufacturing Income Statement for the Year Ended December 31, 2019 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses $1,400,000 907,000 $493,000 110,000 Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2019 Cost of goods sold Fixed cost Variable cost $202,000 705,000 $907,000 Operating profits $383,000 Total cost Less: Interest expense 33,000 Operating expenses Net profits before taxes $350,000 Fixed expenses $34,000 Less: Taxes (rate 40%) 140,000 Variable expenses 76,000 Net profits after taxes $210,000 Total expenses $110,000 Less: Cash dividends 61,000 To retained earnings To retained eamings $149.000 Print Done forma income st Pro forma income statement The marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1.62 million. Interest expense is expected to remain unchanged at $33,000, and the firm plans to pay $69,000 in cash dividends during 2020. Metroline Manufacturing's income statement for the year ended December 31, 2019, is given of the firm's cost of goods sold and operating expenses into their fixed and variable components. a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2020. b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020. c. Compare and contrast the statements developed in parts a. and b. Which statement probably provides the better estimate of 2020 income? Explain why. . along with a breakdown Complete the pro forma income statement for the year ended December 31, 2020 below: (Round the percentage of sales to four decimal places and the pro forma income statement amounts to the nearest dollar) Sales Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (percent-of-sales method) Less: Cost of goods sold Gross profits $ Less: Operating expenses Operating profits $ Less: Interest expense Net profits before taxes $ Less Taxes Net profits after taxes Less: Cash dividends To retained earnings $