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B4 12-31 Year 3 High-End Lifts, Inc. Projected Income Statement 12-31 Year 3 Directions: COMPLETE ALL YELLOW CELLS Sales Assumptions: 25 units x $275,000each. | COGS: Before, 70% of sales; After 50% of sales. Cell E7-E61.5 Outsourcin % Manufacturing % Sales Revenue Cost of Goods Sold Gross Margin SG&A Expenses Advertising Expense Sales Commissions Salaries & Wages Expense Depreciation Expense Insurance Expense Rent Expense Utilities Expense Total SG&A Expenses Operating Income (EBIT) Other Income & Expenses Interest Expense Earnings Before Taxes (EBT) Income Tax Expense, 25% Net Income 6,875,000 100.0% 4,812,500 70.0% 2,062,500 30.0% #DIV/0! ,#DIV/01 #DIV/0! 1 Gross margin averaged 30% before conversion to full production (see IS tab). Gross margin is projected to increase to 50% under mar 687,500 10.0% 343,750 5.0% 481,250 7.0% 23,900 0.3% 25,000 0.4% 24,000 0.3% 14,500 0.2% 1,599,900 23.3% 462,600 6.7% #ONro, 1 full production. This is primarily due to the fact that they are no #DIV/0! longer outsourcing the purchase of inventory (covering the profit #DIV/0! margin of their suppliers). #DIV/0! #DIV/0! SG&A Expenses: all items are the same dollar amounts as #DIV/0! Outsourcing. Copy by entering in cell E10 the formula:-C10 and #DIV/0! follow the same pattern to the bottom of the SG&A section. #DIV/0! #DIV/0! Interest Expense is the same dollar amount as outsourcing 3 49,834 0.7% 412,766 6.0% 103,192 1.5% 309,575 4.5% #DIV/0! Income tax expense is 25% of EBT . 2 IE O Type here to search e