Noble Equipment Corp.

Sales (20% collected in month of sale, 80% collected in 1^st month after sale)

Actual 2014:

July 76

August 88

September 266

Projected 2014:

October 125

November 51

December 53

Purchases and COGS (Paid 2^nd month after purchase)

Actual 2014:

July 116

August 122

September 257

Projected:

October 62

November 27

December 26

Salaries & admin, paid monthly = 20

Interest, paid in December = 9

Dividend, paid in December = 15

Depreciation, charged in December = 4

Tax rate, paid in December = 33%

Debt payment in December = 26

Taxes due in November = 19

Beginning cash October 1^st = 34

Minimum desired cash balance = 15

Using the above financial data and assumptions, construct a pro forma income statement for Noble Equipment Corp. for October 1, 2014-December 31, 2014. Round all answers to the ones place.

Pro Forma Income Statement (Oct 1-Dec 31, 2014)

Sales ___

Cost of Goods Sold ___

Gross Profit ___

Salaries & admin ___ .

Depreciation ___

Earnings before interest and taxes ___

Interest ___ .

Earnings before taxes ___

Taxes at 33% ___

Earnings after taxes ___

Dividends ___

Addition to retained earnings ___