Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pro forma income statement. Given the income statement in the popup window, B. for California Cement Company for 2013 and an expected sales growth rate

image text in transcribed

Pro forma income statement. Given the income statement in the popup window, B. for California Cement Company for 2013 and an expected sales growth rate of 6.77% 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.) - X i... Data table % % California Cement Company Income Statement for 2013 Sales revenue $ 22,837,000 Cost of goods sold $ - 11,609,000 Selling, general, and administrative expenses $ 4,093.000l Depreciation expenses $ $ -1,337,000 IEBIT $ 5,798,000) Interest expense $ $ - 175,000 % % 22,837,000 % -11,609,000 % % California Cement Company Income Statement for 2013 Sales revenue $ Cost of goods sold $ Selling, general, and administrative expenses $ $ Depreciation expenses $ |EBIT $ Interest expense $ Taxable income $ $ -4,093,000 Taxable income $ 5,623,000 % -1,337,000 Taxes $ -2,464,255|| % Net Income $ 3,158,7451 % 5,798,000 -175,000 5,623,000 -2,464,255 Taxes $ $ Net income $ 3,158,745 Print Done Help me solve this View an example Get more help

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

Handbook Of Income Distribution Volume 2A

Authors: Anthony B. Atkinson, Francois Bourguignon

1st Edition

0444594280, 978-0444594280

More Books

Students also viewed these Finance questions