JACKSON AUTOMOTIVE Pro Forma Income Statement Format June July August September Net Sales Given in the projection -COGS Reduction in WIP + Reduction in Inventory +Purchases Gross Profit Operating Expenses Given Depreciation and Amortization Given Interest Expense 6% of loan Interest Income 2% of loan Profit (Loss) Before Tax Gross Profit -Operating expenses-dep & amort. - interest exp. +int. income Income Taxes (34%) Profit before tax * tax rate Net Income Dividends