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I need help setting up the pro forma balance sheet for The Sweet Password Here is the updated income statement: Pro-Forma Income Statement The Sweet

I need help setting up the pro forma balance sheet for The Sweet Password

Here is the updated income statement:

image text in transcribedimage text in transcribedimage text in transcribed
Pro-Forma Income Statement The Sweet Password REVENUE 2021 2022 2023 2024 2025 Gross sales $5.075,000 $5,822,500 $6,680,750 $7.666.225 $8.797,858 Less sales retums and allowances 200,000 200,000 200,000 200.000 200,000 Net Sales $4,875.000 $5,622,500 $6.480.750 $7.466.225 $8.597.858 COST OF SALES Beginning inventory .065,000 $8,065,000 $8,065.000 $8,065.000 $8.065,000 Plus goods purchased / manufactured 1,420,000 879,000 930.000 712,000 690,000 Total Goods Available 59,485,000 $8,944,000 $8,995,000 $8,777.000 $8.755,000 Less ending inventory 6.765,000 6,024,000 5,875,000 5.457.000 5.435,000 Total Cost of Goods Sold $2.720,000 $2.920,000 $3. 120.000 $3.320.000 $3.320,000 Gross Profit (Loss) $2.155,000 $2,702,500 $3,360.750 $4.146.225 $5.277.858 OPERATING EXPENSES Selling Salaries and wages $3,220,000 $3,220,000 $3,220.000 $3,220.000 $3.220,000 Advertising 18,000 18,000 18,000 18.000 18,000 Depreciation 15,000 15,000 15.000 15.000 15,000 Miscellaneous 5% 5%% 5%% 5%% 5% Total Selling Expenses $3,253,000 $3,253,000 $3,253,000 $3,253,000 $3.253,000 General/Administrative Rent 300.000 300,000 300.000 300.000 300,000 Lcities 12.000 21.000 30.000 33.000 33.000 Office supplies 40,000 20.000 20.000 20.000 20,000 Licenses 1,000 1,000 1,000 1,000 1,000 Total General/ Administrative Expenses $353,000 $342,000 $351,000 $354,000 $354,000 Total Operating Expenses $3.606,000 $3,595,000 $3,604.000 $3,607.000 $3.607.000 Net Income Before Taxes ($1.451,000) ($892,500) ($243,250) $539.225 $1,670,857 Taxes on income 5,000.00 5,000.00 $ 5,000.00 $ 5,000.00 $ 5.000.00 Net Income After Taxes ($1,456,000) $897,500) ($248.250) $534,225 $1.665,857 Extraordinary gain or loss $291.813 $334.794 $384.144 $440.808 $505.877 Income tax on extraordinary gain 10.000 10.000 10.000 10.000 10.000 NET INCOME (LOSS) ($1.174, 188) ($572,706) $125.894 $965.033 $2.161.734

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