Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please create Pro Forma financial statements (Balance Sheet and Income Statement) for the next two fiscal years using the information below, assuming a 10% growth

Please create Pro Forma financial statements (Balance Sheet and Income Statement) for the next two fiscal years using the information below, assuming a 10% growth rate in sales and Cost of Goods Sold (COGS) for each of the next two years. Please show math/reasoning for calculations!!

image text in transcribed

1 Scale 4 Income Statement 5 Revenue 6 Cost of goods sold 7 Gross profit 8 Distribution, selling & administrative expense 9 Depreciation 10 Amortization 11 Warrants 12 Employee severance, litigation & other operating expenses $959.33 13 Pension settlemen 14 Operating income (loss) 15 Other income (loss 16 Impairment charge on equity investment 17 Interest expense, net 18 Income before income taxes - domestic 19 Income before income taxes -foreign 20 Income before income taxes 21 Current income tax provision (benefit) - federal 22 Current income tax provision (benefit) - state & local 23 Current income tax provision (benefit) foreign 24 Total current income tax provision (benefit) 25 Deferred income tax provision (benefit) - federal 26 Deferred income tax provision (benefit) state & local 27 Deferred income tax provision (benefit) - foreign 28 Total deferred income tax provision (benefit) 29 Income taxes 30 Income (loss) from continuing operations 31 Net income (loss 32 Weighted average common shares outstanding basic 33 Weighted average common shares outstanding - diluted $221.60 34 Year end shares outstandin 35 Earnings (loss) per share-continuing operations basic 36 Net earnings (loss) per share basic 37 Earnings (loss) per share-continuing operations - diluted 38 Net earnings (loss) per share diluted 39 Dividends per common share 40 Number of full time employees 41 Number of part time employees 42 Total number of employees 43 Number of common stockholders 44 Foreign currency translation adjustments $153,143.83 $ 4,546.00 237.10 Balance Sheet Cash & cash equivalents Accounts receivable, gross Less allowances for returns & doubtful accounts Accounts receivable, net Merchandise inventories Prepaid expenses & other current assets Total current assets $ 11,353.69 $ 1,050.36 $ 10,303.32 $ 24,303.30 Buildings & improvements Machinery, equipment & other property & equipment Total property & equipment Less accumulated depreciation Property & equipment, net $ 2,071.31 $ 6,044.28 $ 2,833.28 Other intangibles assets Goodwill & other intangible assets Other assets Total assets Accounts payable Accrued expenses & other current liabilities Short-term debt Deferred income taxes Total current liabilities Receivables securitization financin Term loan facili 337.66 $ 35,316.47 $ 25,404.04 $ 364.48 Senior notes $ 2,382.07 $ 3,442.06 Less: current portion Long-term debt, net of current portion Long-term financing obligation Deferred income taxes $ 3,429.93 Common stock Additional paid-in capital Retained earnings (accumulated deficit) Pension & postretirement adjustments Foreign currency translation Other accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) Treasury stock, at cost Total stockholders' equity (deficit) $ 19,000.00 $ 1,000.00 $ 20,000.00 4,755.35 $ 2,064.46 1 Scale 4 Income Statement 5 Revenue 6 Cost of goods sold 7 Gross profit 8 Distribution, selling & administrative expense 9 Depreciation 10 Amortization 11 Warrants 12 Employee severance, litigation & other operating expenses $959.33 13 Pension settlemen 14 Operating income (loss) 15 Other income (loss 16 Impairment charge on equity investment 17 Interest expense, net 18 Income before income taxes - domestic 19 Income before income taxes -foreign 20 Income before income taxes 21 Current income tax provision (benefit) - federal 22 Current income tax provision (benefit) - state & local 23 Current income tax provision (benefit) foreign 24 Total current income tax provision (benefit) 25 Deferred income tax provision (benefit) - federal 26 Deferred income tax provision (benefit) state & local 27 Deferred income tax provision (benefit) - foreign 28 Total deferred income tax provision (benefit) 29 Income taxes 30 Income (loss) from continuing operations 31 Net income (loss 32 Weighted average common shares outstanding basic 33 Weighted average common shares outstanding - diluted $221.60 34 Year end shares outstandin 35 Earnings (loss) per share-continuing operations basic 36 Net earnings (loss) per share basic 37 Earnings (loss) per share-continuing operations - diluted 38 Net earnings (loss) per share diluted 39 Dividends per common share 40 Number of full time employees 41 Number of part time employees 42 Total number of employees 43 Number of common stockholders 44 Foreign currency translation adjustments $153,143.83 $ 4,546.00 237.10 Balance Sheet Cash & cash equivalents Accounts receivable, gross Less allowances for returns & doubtful accounts Accounts receivable, net Merchandise inventories Prepaid expenses & other current assets Total current assets $ 11,353.69 $ 1,050.36 $ 10,303.32 $ 24,303.30 Buildings & improvements Machinery, equipment & other property & equipment Total property & equipment Less accumulated depreciation Property & equipment, net $ 2,071.31 $ 6,044.28 $ 2,833.28 Other intangibles assets Goodwill & other intangible assets Other assets Total assets Accounts payable Accrued expenses & other current liabilities Short-term debt Deferred income taxes Total current liabilities Receivables securitization financin Term loan facili 337.66 $ 35,316.47 $ 25,404.04 $ 364.48 Senior notes $ 2,382.07 $ 3,442.06 Less: current portion Long-term debt, net of current portion Long-term financing obligation Deferred income taxes $ 3,429.93 Common stock Additional paid-in capital Retained earnings (accumulated deficit) Pension & postretirement adjustments Foreign currency translation Other accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) Treasury stock, at cost Total stockholders' equity (deficit) $ 19,000.00 $ 1,000.00 $ 20,000.00 4,755.35 $ 2,064.46

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

Governmental Accounting Auditing And Financial Reporting

Authors: Stephen J. Gauthier

1st Edition

0891252754, 978-0891252757

More Books

Students also viewed these Accounting questions