Pro forma income statement the marketing department of Metrome Manufacturing states that is a 2020 will be 51.5 monteres perses expected to an unchanged 57000, and the im plans to pay 570 000 in cash dividends during 2020 Metro Manufacturing income statement for the year ended December 31, 2019, is given won will be of the cost of goods and operating expenses into the feed and variable components Use the percent of memed to prepare a pro forma come statement for the year ended December 1, 2020 b. Usefed and variable con data to develop a pro forma come statement for the year and December 31, 2020 6. Compwe contrast the statements developed in parts, which statement probly provides the bene estate of 2000 income?pen why a. Use the percent ses metod to prepare a pro forma income statement for the ended December 31, 2020 Complete the peo forma come statement for the yow ended December 11, 2020 new round the percentage of so tour cama place was the proforma come statement angers to the west tu) Pro Forma income Statement Metroline Manufacturing, Inc for the Year Ended December 31, 2020 (percent-of-sales method) Sas $ $ $ Less Cost of goods sold Gross profits Less Operating expenses Operating pro Less Interest Expense Net profits before taxes Less Taxes Net profits after taxes Less Cash anidends $ 5 Tartaned cams b. the fored and variable cost data to develop a pro forma income statement the year ended December 31, 2000 Enter any number in the edit fields and then continue to the next question Pro forma income statement The marketing department of Metro Manufacturing states that a 2020 Wibe 1.59 min interese expected to each 137.000 metri plans to pay $70,000 in cash dividends during 2020 Metroine Manufacturing income statement for the year ended December 31, 2017, 15 given Wong with a reason of the soul of goods and operating expenses into the feed and variable components 2. Use the percent of method to prepare a proforma income statement for the year ended December 11.2000 D. Used and variable cost data to develop a proforma income statement for the year ended December 31, 2020 e. Compare and contrast the statements developed in parts aand B. Which statement probably provides the better estimate of 300 income? Why Towned earnings b. Une foed and are costata to develop a proforma income statement for the year ended December 31, 2020 Come the proforma come statement for the year ended December 1, 2020 kw (found the percentage of sales a tomaron and protoma come out in the west) Proforma income statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (based on fixed and variable cost datal Sales $ Les Cost of goods sold Fixed cost Variable cost Gross proft 5 Less Operating expenses Fixed expense Vanable expense $ Operating prots 1.ess Investepense 5 Not onts before taxes Enter any number in the ede fields and then continue to the next question Proforma income statement the man department of Metro Manufactures that 1000 westere expected to an unchangedt32.000 and them plans to pay $70,000 in Chiens during 2000 Metering come statement to the year ended December 31, 2018, yn gwintown.com of good and operating expenses to the wed and are components 2. Use the percent of men to prepare a potoma come out the year ended December 31, 2020 c. Come and contrast the statement repeat parts and D. Which statement probably provides the betere mate of 2020 income? Captain why 5 Less Cost of goods so Fred con Variable cost Gross pros Less Operating expenses Fedexpense Variable expense Operating prots 5 Net profits before tases 5 Less Tues Net protes after takes 5 Les Cash divideos To retained eaming 5 c. Compare and contact the statements de roped in partsaand b. Which statement probably provides the bestimate of 2020 income? Exam Why See on the crop.com) The profomancome statement developed using the red and variable cost data projects bet proteatters to Most of goods and operating expenses Athoghe percent of method projects a more estimate of net patterns, the proforma income statement that cases the advantecost Enter any number in the edits and then continue to the next question ME Manufacturing estimates that its sales in 2020 will be 51 59 million Interest expense is expected to remain unchanged at $37.00 cash dividends during 2020. Metroline Manufacturing's income statement for the year ended December 31, 2019 is given along with a breakdown of the firm's cost of good o their fixed and variable components sales method to prepare a pro forma income statement for the year ended December 31, 2020, le cost data to ast the statemen Data Table ods sold expenses ense (Click on the icon located on the top right corner of the data tables below in order to copy is contents into a spreadsheet) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown of costs and Expenses for the Year Ended December 31, 2019 into Fixed and Variable Components Sales revenue $1,407,000 for the Year Ended December 31, 2018 Less Cost of goods sold 908,000 Cost of goods sold Gross profits $499,000 Fixed COSE 5217.000 Less: Operating expenses 128 000 Variable cost 691.000 Operating profits $371.000 Total cos! 5908,000 Less: Interest expense 37,000 Operating expenses Net profits before taxes $334,000 Fixed expenses $31.000 Less Taxes (rate=40%) 133,600 Variable expenses 97.000 Net profits after taxes $200,400 Total expenses $128.000 Less Cash dividends 66,000 To retained earnings $184,400 expense e taxes Taxes vidends hings Print Done atrast the statemen menus) he statement developed using the fixed and variable cost dela projects a het pronter laxes due to V cost of goods and operating expemes Although the percent of estimate of net profit after taxes the pro forma income statement that classines fixed and vanable costs M accurate ore 0 Pro forma income statement The marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1,59 million. Interest expense is expected to remain unchanged at $37,000, and the firm plans to pay $70,000 in cash dividends during 2020. Metroline Manufacturing's income statement for the year ended December 31, 2019, is given along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components. a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2020. b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts a. and b. Which statement probably provides the better estimate of 2020 income? Explain why. a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2020 Complete the pro forma income statement for the year ended December 31, 2020 below: (Round the percentage of sales to four decimal places and the pro forma income statement amounts to the nearest dollar) % Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (percent-of-sales method) Sales $ Less Cost of goods sold Gross profits $ Less Operating expenses Operating profits $ Less Interest expense Net profits before taxes $ Less: Taxes Net profits after taxes $ Less Cash dividends % Enter any number in the edit fields and then continue to the next question possible Pro forma income statement The marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1.59 million. Interest expense is expected to remain unchanged at $37,000, and the firm plans to pay $70,000 in cash dividends during 2020. Metroline Manufacturing's income statement for the year ended December 31, 2019, is given along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2020 b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts a, and b. Which statement probably provides the better estimate of 2020 income? Explain why Net profits before taxes $ Less Taxes Net profits after taxes $ Less: Cash dividends To retained earings b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020 Complete the pro forma income statement for the year ended December 31, 2020 below. (Round the percentage of sales to four decimal places and the pro forma income statement amounts to the nearest dollar) Pro Forma Income Statement N Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (based on fixed and variable cost data) Sales $ Less Cost of goods sold Fixed cost Variable cost % Gross profits $ Enter any number in the edit fields and then continue to the next question $ % Pro forma income statement the marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1.59 million Interest expense is expected to remain unchanged at $37,000, and the firm plans to pay $70,000 in cash dividends during 2020 Metroline Manufacturing's income statement for the year ended December 31, 2019, is given along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2020. b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts a, and b. Which statement probably provides the better estimate of 2020 income? Explain why Variable cost Gross profits Less: Operating expenses Fixed expense Variable expense Operating profits Less: Interest expense Net profits before taxes Less. Taxes Net profits after taxes $ Less Cash dividends To retained earnings $ c. Compare and contrast the statements developed in parts a. and b. Which statement probably provides the better estimate of 2020 income? Explain why. (Select from the drop-down menus) The pro forma income statement developed using the fixed and variable cost data projects a net pront after taxes due to cost of goods sold and operating expenses. Although the percent-of-sales method projects a more estimate of net profit after taxes, the proforma income statement that classifies fixed and variable cost is $ $ V accurale Enter any number in the edit fields and then continue to the next question (Click on the icon located on the top-right comer of the data tables below in order to copy its contents into a spreadsheet) Metroline Manufacturing Income Statement for the Year Ended December 31, 2019 Sales revenue $1,407,000 Less: Cost of goods sold 908,000 Gross profits $499,000 Less: Operating expenses 128,000 Operating profits $371,000 Less: Interest expense 37,000 Net profits before taxes $334,000 Less: Taxes (rate=40%) 133,600 Net profits after taxes $200,400 Less: Cash dividends 66,000 To retained earnings $134,400 Metroline Manufacturing Breakdown of Costs and Expenses into Fixed and Variable Components for the Year Ended December 31, 2019 Cost of goods sold Fixed cost $217,000 Variable cost 691,000 Total cost $908,000 Operating expenses Fixed expenses $31,000 Variable expenses 97,000 Total expenses $128.000