Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer with the explenation+ right the whole percentage number *the whole result* and need the forcast sales Pro forma income statement. Given the income

please answer with the explenation+ right the whole percentage number *the whole result*
and need the forcast sales image text in transcribed
image text in transcribed
image text in transcribed
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 6.94% 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.) % CA % California Cement Company Income Statement for 2013 Sales revenue $ 22,854,000 Cost of goods sold $ -11,660,000 Selling, general, and administrative expenses $ -3,913,000 Depreciation expenses $ -1,316,000 EBIT 5,965,000 Interest expense $ -172,000 Taxable income $ 5,793,000 CA % CA % $ % % CA % Taxes $ -2,538,757 % Net income $ $ 3,254,243 % California Cement Company Income Statement for 2013 S Sales revenue 22,854,000 $ - 11.660.000 S -3,913,000 Cost of goods sold Selling, general, and administrative expenses Depreciation expenses EBIT $ -1,316,000 A 5,965,000 Interest expense S -172,000 Taxable income S 5,793,000 Taxes S -2,538,757 Net income $ 3,254,243

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To AccountingAn Integrated Approach

Authors: Penne Ainsworth, Dan Deines

8th Edition

1119600103, 9781119600107

More Books

Students also viewed these Accounting questions

Question

4. Think of analogies that will make ideas easier to understand.

Answered: 1 week ago