Goldman Corporation has been requested by its bank to provide proforma financial statements for mid-year 20XX. Following is the information provided: a. Goldman Corporation has two primary products: Wheels & Casters. b. Sales projections are Wheels 1000 units @$30; Casters 2000units @ $35 c. The beginning inventory was 85 units of Wheels @ $16 and 180 units of Casters @ $20. (Assume the company follows FIFO accounting) d. The company prefers to have 10% of projected sales units as ending inventory e. Assume that the price of Materials, Labour & Overhead for wheels is $10, $5, $3 respectively and that of Casters is $12, $6 & $4 respectively f. The company has selling & distribution and administrative expense are $12000. Interest expense is $1500, and dividends are $1500 g. Taxes are at 20% Pro Forma Income Statement June 30, 20XX (in $) 1 Sales 2 Cost of goods sold 3 Gross profit 4 Selling and administrative expenses 5 Operating profit (EBIT) 6 Interest expense 7 Earnings before taxes (EBT) 8 Taxes (20%) 9 Earnings after taxes (EAT) Statement of Changes in Retained Earnings Common stock dividends declared Increase / Decrease in retained earnings