P4-15 Pro forma income statement The marketing department of Metroline Manufactur- ing estimates that its sales in 2016 will be $1.5 million. Interest expense is expected to remain unchanged at $35,000, and the firm plans to pay $70,000 in cash divi- dends during 2016. Metroline Manufacturing's income statement for the year ended December 31, 2015, and a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components are given below a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2016 year ended December 31, 2016 ment probably provides the better estimate of 2016 income? Explain why b. Use fixed and variable cost data to develop a pro forma income statement for the c. Compare and contrast the statements developed in parts a and b. Which state