Given data: 2020 Sales $4 million COGS 50%. Operating expenses 25% of sales, interest expense 2% sales, Tax rate 40% Divided payout 40% 100,000 shares stock outstanding. Complete an income statement and Proforma income statement for 2021. Sales projections indicate 10% growth with no change in depreciation expense. Year 2020 Proforma Growth -10% 50.0% Income Statement Sales COGS Gross Profit Operating expense Depreciation Exp EBIT Oper. Profit 25.0% No change Interest exp. 2.00% 40 EBT Tax 40% EAT Dividend RE EPS 0.4 Shares of stock 100,000