MILESTONE $2$ FORECASTED FINANCIALS

Fill in the yellow highlighted cells with your forecasted figures.

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Forecasted Income Statement $(20$ points: $5$ for showing work, $15$ for accuracy$)$

DURA$-$CLEAR WINDOWS, LLC

Proforma Income Statement

$20202021202220232024202520262027$

Sales $($all on credit$)1,200,0001,500,0001,875,0005,625,0007,031,2508,789,06310,986,32813,732,910$

Cost of Goods Sold $(800,000)(1,040,000)(1,105,000)(3,093,750)(3,867,188)(4,833,984)(6,042,480)(7,553,101)$

Gross Profit $400,000460,000770,0002,531,2503,164,0633,955,0784,943,8486,179,810$

Selling and Administrative Expense $(224,900)(270,500)(363,700)$

Rent Expense $(15,000)(15,000)(15,000)$

Depreciation Expense $(65,000)(76,500)(139,000)$

Operating profit $($EBIT$)95,10098,000252,300$

Interest expense $(35,000)(45,000)(85,000)$

Net Income before Taxes $60,10053,000167,300$

Taxes $(36,900)(49,200)(55,600)$

Net Income $23,2003,800111,700$

Shares $60,00060,00078,000$

Earnings per Share $$0\mathrm{.}39$ $$0\mathrm{.}26$ $$2\mathrm{.}38$

Forecasted Balance Sheet $(30$ points: $5$ for showing work, $25$ for accuracy$)$

DURA$-$CLEAR WINDOWS, LLC

Proforma Balance Sheet

$20202021202220232024202520262027$

ASSETS

Cash $30,00040,00030,000$

Marketable Securities $20,00025,00030,000$

Accounts Receivable $170,000259,000360,000$

Inventory $230,000261,000290,000$

Total Current Assets: $450,000585,000710,000$

Plant and equipment $650,000765,0001,390,000$

Less: accumulated depreciation $(65,000)(141,500)(280,500)$

Net Plant and equipment $585,000623,5001,109,500$

Total Assets $1,035,0001,208,5001,819,500$

LIABILITIES & STOCKHOLDER'S EQUITY

Accounts Payable $200,000310,000505,000$

Accrued Expenses $20,40030,00035,000$

Total Current Liabilities $220,400340,000540,000$

Long$-$term Liabilities $325,000363,600703,900$

Total Liabilities $545,400703,6001,243,900$

Common Stock $($$$1$ par$)60,00060,00078,000$

Capital paid in excess of par $190,000190,000262,000$

Retained Earnings $239,600254,900235,600$

Total Stockholder's Equity $489,600504,900575,600$

Total Liabilities & Stockholder's Equity $1,035,0001,208,5001,819,500$