Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ES Proforma income statement. Given the income statement in the popup wadow, m. for Custom Cement Company for 2013 and an expected ses growth rate

image text in transcribed
image text in transcribed
image text in transcribed
ES Proforma income statement. Given the income statement in the popup wadow, m. for Custom Cement Company for 2013 and an expected ses growth rate of 6.72% for 2014, prepare a pro forma income statement for 2014 First, find the percentage of each income statement line from 2013 as a percent of sales (Round to three decam places) California Cement Company Income Statement for 2013 Sales revenue $ 22,869.000 Cost of goods sold $ 11 641000 Selling general, and administrative expenses $ 4,071.000 Depreciation expenses S -1.300,000 EBIT $ 5.857,000 Cal Interest expensie $ -178.000 Trkable income $ 5,679.000 Zesd Taxes $ 2488797 Net income s 3,190.203 % Tex al Stur icat What is the sales forecast for 2014 $ (Round to the nearest dollar) The pro forma income statement for 2014 is: (Round to the nearest dollar.) California Cement Company Pro Forma Income Statement for 2014 Sales revenue 100.00 % $ 50.903 % 17.801 % 5.685 % $ Cost of goods sold Selling, general, and administrative expenses Depreciation expenses EBIT Interest expense Taxable income 25.611 % $ $ $ 0.778 % 24.833 % 10.883% $ Taxes ati $ 13.950 % Net income California Cement Company Income Statement for 2013 Sales revenue $ 22,869,000 $ -11,641,000 Cost of goods sold Selling, general, and administrative expenses Depreciation expenses $ -4.071,000 $ -1,300,000 EBIT A A A $ 5.857,000 $ Interest expense -178,000 5.679.000 $ Taxable income $ -2.488,797 Taxes $ $ 3,190,203 Net income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Multifractal Detrended Analysis Method And Its Application In Financial Markets

Authors: Guangxi Cao, Ling-Yun He, Jie Cao

1st Edition

9811079153, 978-9811079153

More Books

Students also viewed these Finance questions