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Save Homework: Chapter 12 Homework 4 6 of 6 (6 complete) HW Score: 84.21%, 5.05 of 6 pts Score: 0.05 of 1 pt Question Help P12-10 (similar to) Pro forma income statement. Given the income statement in the popup window, for California Coment Company for 2013 and an expected sales growth rate of 738% for 2014, prepare a pro forma income statement for 2014 First, find the percentage of each income statement line from 2013 as a percent of sales. (Round to three decimal places) % R California Coment Company Income Statement for 2013 Sales revenue $ 22.866,000 Cost of goods sold $ - 11,684.000 Selling general, and administrative expenses $ -3.933,000 Depreciation expenses $ -1,391,000 EBIT $ 5,858,000 Interest expense $ - 173,000 Taxable income $ 5,685,000 $ 2.491 426 5 Net income 3,193,574 % % % statement in the popup window, B. for California Cement Company for 2013 and an expected sales grow- * Data Table nd California Cement Company Income Statement for 2013 Sales revenue $ es $ Cost of goods sold Selling, general, and administrative expenses Depreciation expenses $ 22,866,000 -11,684,000 -3,933,000 -1,391,000 5,858,000 $ EBIT Interest expense $ $ $ -173,000 Taxable income 5,685,000 -2,491,426 Taxes $ Net Income $ 3,193,574 Print Done View an Example X 38% me state stateme Question Help rcentage Pro forma income statement. Given the income statement in the popup window. for California Cement Company for 2013 and an expected sales growth rate of 7.12% for 2014, prepare a pro forma income statement for 2014, ue ods sold neral, and on expens ponso come California Cement Company Income Statement for 2013 Sales revenue $ 23,078,000 Cost of goods sold $ -11,835,000 Selling, general, and administrative expenses $ -4,129,000 Depreciation expenses $ -1,396,000 EBIT $ 5,718,000 Interest expense $ - 162,000 Taxable income $ 5,556,000 Taxes $ -1,717,436 Net Income $ 3,838,564 100.00 % 51.283 % 17.891 % 6.049% 24.777 % 0.702 % 24.075 % 7.442% 16.633% mo Continuat man simi X Que i View an Example 389 statel stateme Question Help entage Pro forma income statement. Given the income statement in the popup window. for California Cement Company for 2013 and an expected sales growth rate of 7.12% for 2014, prepare a pro forma income statement for 2014. The sales forecast for 2014 is given by: sales forecast = previous year's sales x (1 + sales growth rate) sold = $23,078,000 x (1 + 7.12%) = $24,721,154 -nl, and the sales forecast for 2014 is $24,721,154. expens The pro forma income statement for 2014 is: no no California Cement Company Pro Forma Income Statement for 2014 Sales revenue 24,721,154 Cost of goods sold $ -12,677,749 Selling, general, and administrative expenses $ -4,422,862 Depreciation expenses $ -1,495,383 EBIT s 6.125,1601 100.00 % 51.283 % 17.891 % 6.049 % 24.777 % Question is complete simi 0 View an Example 389 Question Help stator stateme antago Pro forma income statement. Given the income statement in the popup window... for California Cement Company for 2013 and an expected sales growth rate of 7.12% for 2014, prepare a pro forma income statement for 2014 The pro forma income statement for 2014 is: sold al, and expens California Cement Company Pro Forma Income Statement for 2014 Sales revenue $ 24,721,154 Cost of goods sold $ -12,677,749 Selling, general, and administrative expenses $ 4,422,862 Depreciation expenses $ -1,495,383 EBIT $ 6,125,160 Interest expense $ -173,543 Taxable income $ 5,951,618 Taxes $ -1,839,748 100.00 % 51.283 % 17.891 % 6.049 % 150 24.777 % 0.702 % 24.075 % 7.442% $ 4,111,870 16.633 % Net Income Question is complete
