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HEELP! TU for the year ended December 31, 2020 $ 3,028,500 1,350,000 1,260,600 $ 417,900 Sales Revenue Less: Cost of Goods Sold: Fixed costs Variable

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HEELP!

TU for the year ended December 31, 2020 $ 3,028,500 1,350,000 1,260,600 $ 417,900 Sales Revenue Less: Cost of Goods Sold: Fixed costs Variable cost Gross Profit Less: Operating Expenses: - Fixed expense Variable expense Operating Profits Less: Interest Expense Net Profit before Taxes Less: Taxes (40%) Net Profit after Taxes Less: Dividend Increase Retained Earnings 4,500 85,840 $ 327,560 82,150 $ 245,410 98,164 $ 147,246 50,000 $ 97,246 11 | 12 | 13 | 14 | 15 | 16 $ 625,000 298,000 580,000 496,000 $ 1,999,000 Asset Current Assets: Cash Marketable Securities Account Receivable Inventories Total Current Assets Fixed Assets: Land & Building Machinery & Equip. Fixtures & Furn. Total Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets Total Assets $625,000 765,000 110,000 $ 1,500,000 30,000 $ 1,470,000 $ 3,469,000 $ 267,000 135,000 288,000 $ 690,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Notes Payable Accruals Total Current Liabilities Long-Term Debt: Total Long-term Debt Total Liabilities Stockholders' Equity: Preferred Stock Common Stock Paid-in-Capital Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders Equity 1,200,000 $1,890,000 I 79,000 750,000 601,000 149,000 $1,579,000 $3,469,000 - - - Company is trying to plan for the next year. Using the current income statement and balance sheet, and the additional information provided, prepare the company's pro forma statements Sales are projected to increase by 20 percent. Total of $80,000 in dividend will be paid. A minimum cash balance of $625,000 is desired, A new equipment for $45,000 will be purchased. Depreciation expense for next year is $50,000. Marketable securities will remain the same. Accounts receivable, inventory, accounts payable, notes payable, and accruals will increase by 10 percent. $30,000 new issue of bond will be sold. No new stock will be issued. Pro Forma Income Statement / Estado de Ingresos y Gastos Proyectado TU for the year ended December 31, 2020 $ 3,028,500 1,350,000 1,260,600 $ 417,900 Sales Revenue Less: Cost of Goods Sold: Fixed costs Variable cost Gross Profit Less: Operating Expenses: - Fixed expense Variable expense Operating Profits Less: Interest Expense Net Profit before Taxes Less: Taxes (40%) Net Profit after Taxes Less: Dividend Increase Retained Earnings 4,500 85,840 $ 327,560 82,150 $ 245,410 98,164 $ 147,246 50,000 $ 97,246 11 | 12 | 13 | 14 | 15 | 16 $ 625,000 298,000 580,000 496,000 $ 1,999,000 Asset Current Assets: Cash Marketable Securities Account Receivable Inventories Total Current Assets Fixed Assets: Land & Building Machinery & Equip. Fixtures & Furn. Total Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets Total Assets $625,000 765,000 110,000 $ 1,500,000 30,000 $ 1,470,000 $ 3,469,000 $ 267,000 135,000 288,000 $ 690,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Notes Payable Accruals Total Current Liabilities Long-Term Debt: Total Long-term Debt Total Liabilities Stockholders' Equity: Preferred Stock Common Stock Paid-in-Capital Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders Equity 1,200,000 $1,890,000 I 79,000 750,000 601,000 149,000 $1,579,000 $3,469,000 - - - Company is trying to plan for the next year. Using the current income statement and balance sheet, and the additional information provided, prepare the company's pro forma statements Sales are projected to increase by 20 percent. Total of $80,000 in dividend will be paid. A minimum cash balance of $625,000 is desired, A new equipment for $45,000 will be purchased. Depreciation expense for next year is $50,000. Marketable securities will remain the same. Accounts receivable, inventory, accounts payable, notes payable, and accruals will increase by 10 percent. $30,000 new issue of bond will be sold. No new stock will be issued. Pro Forma Income Statement / Estado de Ingresos y Gastos Proyectado

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