Prepare a summarize proforma income statement for Shamsuri Sdn Bhd for the periodending 31 December 2006 based on the following information:

i) Actual sales 2005 RM1 million

ii) Projected sales 2006 Increase by 20% of 2005 actual sales

iii) Gross profit margin 40%

iv) Operating profit (EBIT) margin 25%

v) Time interest earned 6 times

vi) Tax rate 30%

vii) Dividend pay out ratio 0.40