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please answer correctly and as soon as possible Question 09 Pro forma income statement Orion Inc., expects sales during 2018 to nse from the 2017
please answer correctly and as soon as possible
Question 09 Pro forma income statement Orion Inc., expects sales during 2018 to nse from the 2017 level of $3.5 million to $6 million. Because of a scheduled large loan payment, the interest expense in 2018 is expected to drop to $350,000. The firm plans to increase its cash dividend payments during 2018 to $400,000. The company's year-end 2017 income statement follows. Orion, Inc. Income Statement for the Year Ended December 31, 2017 Sales revenue Less: Cost of goods sold Gross profits Less: Operating expenses Operating profits Less: Interest expense Net profits before taxes Less Taxes rate Net profits after taxes Less: Cash dividends To retained earnings 3500000 1925000 1575000 420000 1155000 400000 755000 302000 453000 250000 203000 40% Use the percent-of-sales method to prepare a 2018 pro forma income statement for Orion, Inc *Good Luck Step by Step Solution
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