+ d.mohamed27@ X Mohamed Mohamed Mohamed X 12NTA4NzQ3MTRa/a/MTIWMTIIMDAzMTc4/details Problem 1: The income statement for the ZZZ Mattress Co. for the year ended December 31, 2010 follows Income Statement ZZZ Mattress Company For the Year Ended December 31, 2010 Sales SOITXO Less: Cost of goods sold 195.000 Gross profit $105,000 Less: Selling expense 40.000 General and administrative expense 11.000 Less: Depreciation 10000 Operating profit $14.000 Less: Interest 12.00 Net profit before taxes $ 32.000 Less: Taxes (40%) $ 19,200 12.00 Required: Using the percent-of-sales method, prepare the pro forma income statement assuming 2011 sales are estimated to be $330,000, interest expense is expected to be unchanged, dividends is expected to be 40% Page 1 / 1 Q + MacBook Air