please see attachment

4. Company P is considering investing in Company S. but is unsure about what level of ownership should be undertaken. Company P and Company S have the following reported incomes; Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income Company P $1,000,000 300,000 $700,000 220,000 Company $500,000 200,000 $300,000 100,000 $480,000 $200,000 Company S paid $20,000 in cash dividends to its investors. Prepare a pro forma income statement for Company P that compares income under 15%, 40%, 90%, and 100% ownership levels