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ch12 6. Pro forma income statement. Given the income statement in the popup window, for California Cement Company for 2013 and an expected sales growth

ch12

6. Pro forma income statement.Given the income statement in the popup window, for California Cement Company for 2013 and an expected sales growth rate of 6.91% for 2014, prepare a pro forma income statement for 2014.

California Cement Company
Income Statement for 2013
Sales revenue $ 22,823,000
Cost of goods sold $ -11,689,000
Selling, general, and administrative expenses $ -3,937,000
Depreciation expenses $ -1,349,000
EBIT $ 5,848,000
Interest expense $ -174,000
Taxable income $ 5,674,000
Taxes $ -2,486,606
Net income $ 3,187,394

First, find the percentage of each income statement line from 2013 as a percent of sales.(Round to three decimal places.)

California Cement Company
Income Statement for 2013
Sales revenue $ 22,823,000 %
Cost of goods sold $ -11,689,000 %
Selling, general, and administrative expenses $ -3,937,000 %
Depreciation expenses $ -1,349,000 %
EBIT $ 5,848,000 %
Interest expense $ -174,000 %
Taxable income $ 5,674,000 %
Taxes $ -2,486,606 %
Net income $ 3,187,394 %

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