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Can I recieve help with this? Robert Wilms, Marigold Michael's controller, has received the budgets prepared by the various operating units and is ready to
Can I recieve help with this?
Robert Wilms, Marigold Michael's controller, has received the budgets prepared by the various operating units and is ready to compile the proforma financial statements for the first quarter The company's balance sheet of December 31 is as follows Accounts Receivable net Finished Goods Inventory Raw Materials inventory Property. Plant & Equipment Accumulated Depreciation $32.300 22.500 98 900 49.280 300.000 175.000 $427.980 $18.000 26.400 100.000 283.580 $427.900 Accounts Payable income Tax Payable Common Stock Retained Earning Total abilities & Owners Equity Selected Estimates Budgeted revenue Selling and administrative pense Cost of Goods Sold Accounts receivable net) Quarter $1.780.400 425,700 370 50.30 1.389 630 174220 29 150 104.720 218700 5.000 Fished goods Accounts payable Notes payable Additional information Marigold Michael plans to purchase and pay cash for a piece of land in February at a cost of $90,000 Marius Michael plans to purchase in Marcha cost of $30.000 Depreciation for matching overhead $42.000 per quarter and for selling and administrative $30,000 per month The comes incontrando quarterly we paid in the first month of the following quarter Prepare Marigold & Michael's pro forma income statement for the first quarter. (Enter negative amounts using the one tive sin prendres the numbers 45 or parenthesesex (451) Marigold& Hill Income Statement First Quarter Sales Revens 1780400 Cost of Goods Sold 1389630 Gross Margin 390770 Selling & Administrative Expense 425700 Operating Income/(Loss) -34930 interest Expense 370 Income Before Taces -35300 Income Tax Experte Net Income /(Los -35300 Prepare Marigold & Michael's pro-forma balance sheet as of March 31. Marigold& Hill Balance Sheet March 31 Cash $ 122300 Accounts Receivable 22500 Raw Materials Inventory > 98900 Finished Goods Inventory > 49280 Property. Plant & Equipment 330000
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