Fill in the yellow highlighted cells with your forecasted figures.

SHOW ALL YOUR SUPPORTING CALCULATIONS! You may do this either within the cell by using formulas, out to the right, or both $--$ clearly labeling your work.

All your work must be shown on this sheet, not on a separate tab.

Forecasted Income Statement $(20$ points: $5$ for showing work, $15$ for accuracy$)$

DURA$-$CLEAR WINDOWS, LLC

Proforma Income Statement

$20202021202220232024202520262027$

Sales $($all on credit$)1,200,0001,500,0001,875,0005,625,0007,031,2508,789,06310,986,32813,732,910$

Cost of Goods Sold $(800,000)(1,040,000)(1,105,000)(3,093,750)(3,867,188)(4,833,984)(6,042,480)(7,553,101)$

Gross Profit $400,000460,000770,0002,531,2503,164,0633,955,0784,943,8486,179,810$

Selling and Administrative Expense $(224,900)(270,500)(363,700)(1,053,000)(1,316,250)(1,645,313)(2,056,641)(2,570,801)$

Rent Expense $(15,000)(15,000)(15,000)200,000200,000200,000200,000200,000$

Depreciation Expense $(65,000)(76,500)(139,000)(166,800)(200,160)(240,192)(288,230)(345,876)$

Operating profit $($EBIT$)95,10098,000252,3001,296,9501,632,6722,054,5742,583,978345,876$

Interest expense $(35,000)(45,000)(85,000)(93,500)(102,850)(113,135)124,449)(136,893)$

Net Income before Taxes $60,10053,000167,3001,203,4501,529,8221,941,4392,459,5293,111,238$

Taxes $(36,900)(49,200)(55,600)(421,208)(535,438)(679,504)(860,835)1,088,933$

Net Income $23,2003,800111,700782,243994,3841,261,9361,598,6942,022,305$

Shares $60,00060,00078,00078,00078,00078,00078,00078,000$

Earnings per Share $$0\mathrm{.}39$ $$0\mathrm{.}26$ $$2\mathrm{.}38$ $$1\mathrm{.}43$ $$10\mathrm{.}03$ $$12\mathrm{.}75$ $$16\mathrm{.}18$ $$25\mathrm{.}93$

Forecasted Balance Sheet $(30$ points: $5$ for showing work, $25$ for accuracy$)$

DURA$-$CLEAR WINDOWS, LLC

Proforma Balance Sheet

$20202021202220232024202520262027$

ASSETS

Cash $30,00040,00030,000$

Marketable Securities $20,00025,00030,000$

Accounts Receivable $170,000259,000360,000$

Inventory $230,000261,000290,000$

Total Current Assets: $450,000585,000710,000$

Plant and equipment $650,000765,0001,390,000$

Less: accumulated depreciation $(65,000)(141,500)(280,500)$

Net Plant and equipment $585,000623,5001,109,500$

Total Assets $1,035,0001,208,5001,819,500$

LIABILITIES & STOCKHOLDER'S EQUITY

Accounts Payable $200,000310,000505,000$

Accrued Expenses $20,40030,00035,000$

Total Current Liabilities $220,400340,000540,000$

Long$-$term Liabilities $325,000363,600703,900$

Total Liabilities $545,400703,6001,243,900$

Common Stock $($$$1$ par$)60,00060,00078,000$

Capital paid in excess of par $190,000190,000262,000$

Retained Earnings $239,600254,900235,600$

Total Stockholder's Equity $489,600504,900575,600$

Total Liabilities & Stockholder's Equity $1,035,0001,208,5001,819,500$