be Pen forma constanten Themen wie Marching entities that he wil tested except 53.000 2.000 de december 2012 of the ww the wind De 20 out Guta 2000 Comme 200 mm re ten T 159UUUU 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 incom Sales Less: Cost of goods sold 900000 64.75 % Gross profits $ 490000 Less: Operating expenses 119000 9% Operating profits 5 371000 Less Interest expense 31000 340000 Net profits before taxes Less Taxes 136000 204000 Net profits after taxes 65000 Less Cash dividends 139000 To retained earnings 2020 d to (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below into a spreadsheet) to emer Metroline Manufacturing Income Statement for the Year Ended December 31, 2019 Sales revenue $1,390,000 Less Cost of goods sold 900,000 Gross profits $490,000 Less: Operating expenses 119,000 Operating profits 5371,000 Less: Interest expense 31,000 Net profits before taxes $340,000 Less: Taxes (rate=40%) 136,000 Net profits after taxes $204000 Less Cash dividends 65,000 To retained earnings $139.000 Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2019 Cost of goods sold Fbxed cost $205,000 Variable cost 695,000 Total cost $900.000 Operating expenses Fixed expenses $32.000 Variable expenses 87.000 Total expenses $119.000 be Pen forma constanten Themen wie Marching entities that he wil tested except 53.000 2.000 de december 2012 of the ww the wind De 20 out Guta 2000 Comme 200 mm re ten T 159UUUU 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 incom Sales Less: Cost of goods sold 900000 64.75 % Gross profits $ 490000 Less: Operating expenses 119000 9% Operating profits 5 371000 Less Interest expense 31000 340000 Net profits before taxes Less Taxes 136000 204000 Net profits after taxes 65000 Less Cash dividends 139000 To retained earnings 2020 d to (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below into a spreadsheet) to emer Metroline Manufacturing Income Statement for the Year Ended December 31, 2019 Sales revenue $1,390,000 Less Cost of goods sold 900,000 Gross profits $490,000 Less: Operating expenses 119,000 Operating profits 5371,000 Less: Interest expense 31,000 Net profits before taxes $340,000 Less: Taxes (rate=40%) 136,000 Net profits after taxes $204000 Less Cash dividends 65,000 To retained earnings $139.000 Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2019 Cost of goods sold Fbxed cost $205,000 Variable cost 695,000 Total cost $900.000 Operating expenses Fixed expenses $32.000 Variable expenses 87.000 Total expenses $119.000
