Proforma Income statement the marketing department of Metroine Maracturing estimates that its sales in 2020 will be $1,62 million. Interest expense is expected to remain unchanged 1530,000, and the firm plans to pay 566.000 in cash dividends during 2020. Metrolina Marutacturing Income statement for the yow ended December 31, 2010, is given wong wth a breakdown of the firm's cost of goods sold and operating expenses into their feed and variabile components Use the percento a method to prepare a proforma income statement for the year ended December 31, 2020 Use feed and variable cost data to develop a proforma income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts and b. Which statement probably provides the better estimate of 2020 income? Explain why Pre Forma Income Statement Metroline Manufacturing, Ine. Data Table for the Year Ended December 31, 2020 (based on fixed and variable cost data) (For Income Stement click on the toon here in order to copy the contents of the datatable below into a spreadsheet) Sales $ 1620000 (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the datatable below into a Los: Cost of goods sold spreadshot) Fixed cost 217000 Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown of Costs and Expenses Gross profils for the Year Ended December 31, 2019 Into Fixed and Variable Components Sales revenue 51,405,000 for the Year Ended December 31, 2017 Less: Operating expenses Loss Cost of goods sold 910,000 Cost of goods sold Fred expense Gross profits $496,000 Fixed cost $217,000 Less: Operating expenses 120,000 Variable cost 693.000 Variable expense Operating profits $378.000 Total cost $910,000 Operating profits $ Less: Interest expense 39,000 Operating expenses Los interest expense Net profits before the $337,000 Fred expenses $40,000 Less: The rate 40%) 134,800 Variable expenses 80,000 Net profits before as $ Net profits after taxes 5202,200 Total expenses $120,000 Less: Trees Less: Cash dividends Net profits abertas To retained earnings $ $130.200 Less: Cash dividends To retained emings Print Done 64,000 Proforma income Matement The marketing department of Metrolina Manufacturing evimates that is soos in 2020 will be $1.6 milion. Interest expense is expected to remain unchanged at $30.000, and the firm plans to pay $6.000 in cash dividends during 2020, Meroine Manufacturing's come statement for the year ended December 31, 2018, is given Wong with a breakdown of the cost of goods sold and operating expenses into their fried and variable components. Use the percent-of-sales method to prepare a proforma income statement for the year ended December 31, 2000 b. Use fxed and variable cost data to develop a proforma Income statement for the year ended December 31, 2020 c. Compare and contrast the statements developed in parts a and . Which statement probably provides the botter estimate of 2020 income? Explain why Data Table Pro Forma Income Statement Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (based on fixed and variable cost data) Sales 5 1620000 Less: Cost of goods sold Faced cost 217000 Variable cost Gross pro $ Les Operating expenses Fixed expense Variable expense Operating profits $ Les interest expense Net profits before me S Less: Taxes Net profits her taxes Less Cash dividends Yt ----....... (For Income Stament, click on the icon here in order to copy the contents of the datatable below into a spreadsheet (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Metroline Manufacturing Metroline Manufacturing Income Statement Breakdown of Costs and Expenses for the Year Ended December 31, 2019 Into Feed and Variable Components Sales revenue $1.400.000 for the Year Ended December 31, 2019 Less: Cost of goods sold 910.000 cost of goods sold Gross profits $116.000 Fleed cost $217,00 Less: Operating ergens 120.000 Variable cost 693,000 Operating profits $376.000 To cost $910 og Less: rest expense 39.000 Operating experses Net profits before taxes $337.000 Fixed expenses $40,000 Less: Taxes rate 40%) 134.000 Variable expenses 80.000 Net profiter taxes 5.202.200 Total expenses $120,000 Less Cash dividende 64.000 To retained earings $138.200 Preforma income statement The metro department of Marine Manning est that he was in 2000 will be $162 non interest expense is expected to remain unchanged $30.000d the form para to pay 6,000 in cath dividends during 2000 Metrine Marung income statement for the year anded December 31, 2010, given wong with a breakdown of the foot of goods sold widerwing experves into the food and varie componente the per method to prepare a proforma income talement for the year ended December 31, 2070 Usefes 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 and b. Which statement probably provides the botter estimate of 2020 income? Explain why a. Use the percent of sales method to prepare a proforma income for the year anded December 31, 2020 Complete the proforma income statement for the year ended December 31, 2020 below Round the percentage of Duta Table Pro Forma Income Statement Metroline Manufacturing, Inc. For Income Stement, click on the loon here in order to copy the contents of the datatable below into a great for the Year Ended December 31, 2020 (percent-of-sales method) (For Breakdown of Costs and Expenses, click on the loon here in order to copy the corrients of the dwa we below to spreadsheet Sales 1,620,000 Metroline Manufacturing Metroline Manufacturing 1,048,500 Less: Cost of goods sold 64.7220 % Income Statement Breakdown of Costs and Expenses Gross profits 5 571,494 for the Year Ended December 31, 2013 into Fixed and Variable Components Sales revenue $1,400,000 for the Year Ended December 31, 2019 138.265 Less Operating expenses 8.5348 Less: Cost of goods sold 910.000 Coot of goods sold Operating profits 5 433.229 Cross profits 3496,000 Food cost $217000 Less: Operating expenses 30.000 120,000 Variable cost 690,000 Operating profits $910 000 Net profits before taxes $ 394229 Lose interest expense 39,000 Operating expenses Loss: Taxes 157.632 Net profits before tace $337.000 Fred expenses $40.000 134.800 Loss Taxes (rate 40%) 80.000 23,537 Variable expenses Net profits after faces s Net profits abertas 5202,200 Total expenses $120,000 Less: Cash dividende 68 000 Less Cash dividends 54,000 $ To retained earnings 170.537 $138.200 To retained earnings b. Use feed and variable cost data to develop a proforma income statement for the year ended December 31, 2020 $575.000 Total cost Pro forma income statement The marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1.62 million. Interest expense is expected to remain unchanged at $39,000, and the firm plans to pay $66,000 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 $ 1,620,000 Less: Cost of goods sold 1,048,506 Gross profits $ 571,494 Less: Operating expenses 138,265 Operating profits $ 433,229 Lase: Interest AXTARA 39,000 64.7226 % 8.5348 % Enter any number in the edit fields and then click Check Answer. Less: Interest expense 39,000 Net profits before taxes $ 394,229 Less: Taxes 157,692 Net profits after taxes $ 236,537 Less: Cash dividends 66,000 To retained earnings $ 170,537 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 Metroline Manufacturing, Inc. for the Year Ended December 31, 2020 (based on fixed and variable cost data) Sales 1620000 Less: Cost of goods sold Fixed cost 217000 Variable cost Gross profits Less: Operating expenses Fixed expense Variable expense Operating profits % % Pro forma income statement The marketing department of Metroline Manufacturing estimates that its sales in 2020 will be $1.62 million Interest expense is expected to remain unchanged at $39,000, and the firm plans to pay $66,000 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 foxed 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. TIBU UN 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 i Data Table (For Income Staement, click on the icon here in order to copy the contents of the data table below into a spreadsheet.) (For Breakdown of Costs and Expenses, click on the icon here in order to copy the contents of the data table below 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 $1,406,000 for the Year Ended December 31, 2019 Less: Cost of goods sold 910,000 Cost of goods sold Gross profits $496,000 Fixed cost $217,000 120,000 Variable cost Less: Operating expenses 693,000 $910,000 Operating profits Less: Interest expense 39,000 Operating expenses Net profits before taxes $337,000 Fixed expenses $40,000 Less: Taxes (rate = 40%) 134,800 Variable expenses 80,000 Net profits after taxes $202,200 Total expenses $120,000 Less: Cash dividends 64,000 To retained earnings $138,200 $376,000 Total cost